There is a substantial literature which suggests that appraisals are smoothed and lag the true level of prices. This study combines a qualitative interview survey of the leading fund manager/owners in the UK and their appraisers with a empirical study of the number of appraisals which change...

ERES:conference

The rapid changes of environment have a considerable effect on the real estate prices. The consequences of urban constructions (like new tramways or metro stations, new bridges or industrial areas) are durable and difficult to measure. The estimation of these environmental transformations is...

Property decision-making is typically characterized as a structured rational process, using factual data and leading to optimal decision-making. To augment, or substitute for deficiencies in, such data, property investors may turn to perceptions of investor or market sentiment. Reliance on...

The literature on investor decision‐making behaviour in property investment is sparse, loosely integrated and focused principally upon large, institutional investors. It reflects rational, normative models that treat investor behaviour as highly structured and formalised. By contrast,...

Whilst the vast majority of the research on property market forecasting has concentrated on statistical methods of forecasting future rents, this report investigates the process of property market forecast production with particular reference to the level and effect of judgemental intervention...

In the context of its increasing use in policy formulation regarding planning obligations, we discuss a number of problematic issues in the application of development viability appraisal modelling in the UK planning system. The increased use of planning obligations to provide affordable housing...

The aim of this paper is to critically examine the application of development appraisal to viability assessment in the planning system. This evaluation is of development appraisal models in general and also their use in particular applications associated with estimating planning obligation...