This paper sets out to test whether, as a consequence of being informationally disadvantaged, new entrants to residential property markets pay significantly higher prices for a hypothetical standardized property. The paper analyses data on house sales in Glasgow between April 1991 and March...

Over the last three decades housing economists have shown increasing interest in the analysis of the length of time a property spends on the market. This literature provides useful insights into the operation of local housing markets. It is clear, for example, that an appreciation of the factors...

There is considerable evidence, exemplified by the work of Onder et al (2004) that explores the effects of the 1999 Marmara event, that earthquake risk has distorted spatial and temporal house price patterns in the Istanbul metropolitan area. Last yearís earthquake activity in Eastern Turkey,...

Underdetermination, associated with the Duhem--Quine thesis, is a familiar if under-researched theme in economics. In the light of this, we examine the development of urban land and housing economics. Through its Cartesian dualistic delineation of theory and data, the contemporary mainstream...

Purpose This paper aims to explore the impact of a recent earthquake activity on house prices and their spatial distribution in the Istanbul housing market. Design/methodology/approach The paper uses a multi-level approach within an event study framework to model changes in the pattern of house...

Purpose – The purpose of this paper is to address both the measurement of affordability and variations in affordability between local housing market areas (HMAs). Design/methodology/approach – The practical data issues that arise from measuring local affordability are reviewed by reference...

Purpose – Property performance indices have invariably focused upon prime markets with a variety of approaches used to measure investment returns. However, there is relatively little knowledge regarding the investment performance of property in regeneration areas. Indeed, there is a perception...

Since the 1980s UK academics have promoted the use of multiple regression analysis in property valuation. Recently, however, there has been growing recognition that regression models will be subject to aggregation bias if they fail to accommodate the existence of housing market segmentation...