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Paper eres2010_143:
REAL ESTATE INVESTMENT IN BRITISH PROVINCIAL CITIES: TOO MUCH OR TOO LITTLE?

id eres2010_143
authors White, Michael; Dunse, Neil; Jones, Colin
year 2010
title REAL ESTATE INVESTMENT IN BRITISH PROVINCIAL CITIES: TOO MUCH OR TOO LITTLE?
source 17th Annual European Real Estate Society Conference in Milan, Italy
summary It has been argued that investors overlook investment opportunities in the real estate markets of the UK outside London. This paper examines the fundamentals of real estate markets in British provincial cities. It analyses the diversification potential for investing and differences in expected returns. It begins by presenting an analysis of the key economic drivers across provincial cities in comparison with London, the South East and the UK as a whole. This is followed by an analysis of total return and rental growth in individual cities. The paper then presents a correlation analysis of total returns and rental growth between the cities. This provides evidence of association between the patterns of returns and rental growth and indicates where there is statistically significant association between patterns of returns and rental growth across sectors and cities. Direction of causality is tested. The paper then proceeds to examine what investment patterns should be given market fundamentals compared to actual investment patterns and provides evidence of under or over investment.
keywords Investment and Fundamentals, Market size, Granger-Causality
series ERES:conference
email m.j.white@hw.ac.uk
more http://www.eres2010.org/index.asp?page=papers_download
content file.pptx (524,991 bytes)
discussion No discussions. Post discussion ...
ratings
session Real Estate Investment (2)
last changed 2010/08/04 20:47
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