Purpose – The purpose of this paper is to address the variation of efficiency of local office markets. It has long been argued that as data in the property market are based on valuations, it has a tendency toward smoothing or stickiness. The accuracy of valuations is shown to be partially...

Contributors -- Glossary -- Introduction : the housing economy and the credit crunch -- The housing boom, the bust and US housing policy -- Housing bubbles and foreclosures that follow : the case of Las Vegas -- Unemployment risk, homeownership, and housing wealth : lessons from the bubble --...

The classic property market boom and bust is conceptualised as a short term adjustment process generated by the interaction of occupation demand, the business cycle, the national credit cycle and supply lags consequent on the development cycle. An alternative perspective views the process...

This paper develops a tiered geography of local housing market areas (HMAs) that provides a national framework for spatial planning. It is derived from a theoretical understanding of the economic basis of HMAs. The analysis explores the relationships between the tiers of the HMA geography and...

Analysis of local office markets to date has normally assumed a unitary market which implies that the prices of office attributes remain spatially constant across the entire market. This paper challenges that basic presumption, and its objective is to test for the existence of office market...

This study explores the basic premise that depreciation/obsolescence will systematically vary by location and sets out to assess the spatial dimension to these processes. A series of hypotheses linking differential locational rates of depreciation within a framework of local industrial property...

Purpose – The purpose of this paper is to analyse the gap between government bonds (index-linked and long-dated) and real estate yields/capitalization rates over time for the UK, Australia and the USA. The global financial crisis was a sharp shock to real estate markets, and while interest...

Purpose – The purpose of this paper is to examine the experience of the UK office market in embracing green buildings. The empirical analysis considers the spatial pattern and growth of green buildings in cities since 1990. It examines the perceived industry wisdom that the establishment of a...