Skyscraper Indicator and its application in the UK
||Skyscraper Indicator and its application in the UK
||23rd Annual European Real Estate Society Conference in Regensburg, Germany
||Objective: The research examines Skyscraper Indicator and its application in the UK. Research Design & Methods: It employs dummy variable regression to test the hypothesis. The study selects quarterly UK GDP and GDP per capita series over Q1 1960 - Q4 2014 period as macro variables and a series of dummies for construction starts, durations and completions of the record-breaking buildings in the UK.Findings: The estimates suggest that the announcement of the construction of tallest building in the UK is related to national GDP.Implications & Recommendations: To make robust economic forecasts, analysts may use the announcement of the construction of the record breaking skyscraper as a possible bell-weather in gaging future direction of the UK economy. They may turn their gaze towards the London skyline when contemplating UK market movements.
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||Real Estate Economics
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