Parker, D; MacFarlane, J; Peng, V and Murray, J (2003) Forecasting property market cycles: An application of the RICS model to the Sydney CBD office market. Journal of Financial Management of Property and Construction, 8(3), pp. 178-192. ISSN 1366-4387
Abstract
The RICS Model for office market forecasting is designed to be capable of application to office markets other than the City of London, upon which it was based. Having outlined the structure of the RICS Model and considered similarities and differences in market structure that may influence its effective operation, it is then applied to the Sydney CBD office market. The differences between office markets and the availability of data are found to limit the effective operation of the RICS Model for Sydney, with suggestions made for improvements and conclusions drawn on the structure and role of such a model in a global context.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | modelling, forecasting, central business district, office, market, Sydney |
| Index terms: | London, modelling, markets, forecasting, property market |
| Subjects: | analytical methods, Geography, prediction and forecasting, economic analysis, real estate economics |
| Topics: | Business Strategy, Geographical Context, Urban Studies, Engineering Principles, Research Practice |
| Descriptive scope: | 3 PCA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here