Enabling property professionals to overcome the limitations of quantitative research

Use of statistics in property research is increasing, although little emphasis has traditionally been placed on knowledge of statistical techniques by property professionals. Three levels of complexity are identified for the statistics used to identify property issues: simple descriptive statistics, comparative statistics using methods available as standard, and “leading edge” techniques. Housing is used as an example to discuss the limitations of statistics at all three levels in relation to property research generally. Recent research to overcome these limitations has included use of behavioural techniques and of artificial intelligence, as well as advances in statistical methodology. Suggests four possible means of making property research more accessible to practitioners: higher‐level statistical training; advances to make statistics more comprehensible to practitioners; greater reliance on qualitative research techniques; and use of IT to disseminate expert knowledge. Practitioners will need to use the results of research to remain competitive, which means either acquiring new skills or becoming dependent on receipt of expert knowledge.