In this paper, it is argued that neo‐classical location theory is of limited value in conceptualising the structure of urban office markets. Rather there are sound theoretical and technical arguments for segmenting office markets into distinct submarkets. It is further argued that submarkets,...

This paper argues that the methods of constructing house price indices for UK markets lag behind those employed in Europe, Australasia and North America. This is particularly evident in terms of the range and level of technical sophistication of the index construction methodologies. Importantly,...

Typically, studies of the occupiers' choice of office property have focused on the influence of location. Following the standard behavioural assumptions of neo‐classical economics, the firm is assumed to make the rational profit‐maximising decision on the basis of full information. All firms...

Much of the housing sub-market literature has focused on establishing methods that allow the partitioning of data into distinct market segments. This paper seeks to move the focus on to the question of how best to model sub-markets once they have been identified. It focuses on evaluating the...

The commercial prospects of speculative housebuilders depend crucially on successful land acquisitions. This paper presents new evidence revealing the importance housebuilders attach to networks with other important actors in securing future land supplies. Since networks depend on trust,...

"The Routledge Handbook of Housing Economics brings together an international panel of contributors to present a comprehensive overview of this important field within economics. Housing occupies an increasingly central role in modern society, dominating consumer assets and spending, forming an...

Property markets are considered efficient when the market price of a transacted property equates with its market worth. If this condition holds then identical properties should sell or let for the same price. However, properties are heterogeneous, and information and operational constraints...

Purpose – The objective of this paper is to re‐appraise intra‐urban rent models in the context of a multi‐nodal landscape. Primarily, the study focuses on the early work of Alonso and, more recently, Di Pasquale and Wheaton. Although the latter use a more sophisticated approach, both...

Purpose – The purpose of this paper is to question whether traditional cost approaches apply to the valuation of an airport now that they are no longer public utilities but very much commercial enterprises. Design/methodology/approach – The research discusses the business model, the...

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...