Eres : Digital Library : Works

Paper eres2004_165:
Transactions activity, liquidity and market behaviour in UK commercial property

id eres2004_165
authors Key, Anthony; Matysiak George
year 2004
title Transactions activity, liquidity and market behaviour in UK commercial property
source 11th European Real Estate Society Conference (2-5 June 2004) Milano, Italy
summary The paper develops on work for the Investment Property Forum study on Liquidity in UK Commercial Property completed by Reading University, Cambridge University and Cass Business School in early 2004. The paper is based on a comprehensive review of transactions activity indicators in the UK market from the mid-1980s to 2002. The transactions evidence is used to track variations in transactions activity over time, and across different market sectors. The descriptive section of the paper answers for the first time questions such as how much transactions activity varies with the cycle, and whether markets in some types or sizes of property are more ‘liquid’ than others. Analytically, the paper firstly develops models of transactions activity which explain trend and cycle variations in terms of market pricing, the motivations of different actors in the market, and taxes on transactions. Secondly, it tests over time for associations between transactions activity and price behaviour (volatility, serial correlation) of markets both over time and across markets.
series ERES:conference
email tony.key@city.ac.uk
discussion No discussions. Post discussion ...
ratings
session Liquidity
last changed 2008/12/21 10:41
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