Established theme, ongoing.
Introduction
Property prices are hard to measure well, and much of what the field believes about housing markets rests on estimates that are more fragile than they appear. My earliest work addressed this directly, developing improved estimators for hedonic price models and testing spline smoothing against the parametric forms then in standard use. The methodological question has stayed with me: before a housing market can be explained, the price signal has to be extracted from thin, heterogeneous, and irregularly traded stock.
The applied half of this line asks what moves those prices. It covers the capitalisation of schooling and transport improvements into residential values, the price effects of the Beijing Olympics and of short-term letting platforms, the behaviour of land markets in Hong Kong and Beijing, and the transmission of political instability and foreign capital into housing values in Guernsey, Malaysia, and China. A separate thread examines listed real estate, including the predictability of REIT returns and tail dependence across global public property markets during periods of stress.
Research Grants
Collaboration network
To be added.
Events
To be added.
Publications
- Foreign Investment and Housing Market Stability in Developing Economies: Empirical Evidence from Malaysia
- Light at the end of the tunnel: The impacts of expected major transport improvements on residential property prices
- Urbanisation, Environmental Externalities and House Prices in China
- The impact of home sharing on residential real estate markets
- Increased Tail Dependence in Global Public Real Estate Markets
- Mega-event effects on the housing market: Evidence from the Beijing 2008 Olympic Games
- Real Estate Investment Trust Returns: Predictability and Determinants
- Real Estate Investment in Guernsey’s Two-Tiered Housing Market
- House Price Dynamics: Evidence from Beijing
- The Impact of the 2008 Olympic Games on Residential Property Prices in Wangjing, Beijing
- Modelling price dynamics in the Hong Kong property market
- Property Rights and Housing Value: The Impacts of Political Instability
- Hedonic Valuation of Schooling in the U.K.: The Case of Hertford Town
- The Land Market in Hong Kong: Price Index and Relationship with the Property Market
- Improved estimators of hedonic housing price models
- On the use of spline smoothing in estimating hedonic housing price models: Empirical evidence using Hong Kong data
Working papers
- Aesthetic Value or Appreciation Potential: Measuring Spillover Effects of House Alterations on Neighbouring Properties in the UK
- Cursed Numbers and Blessed Streets: Secularisation and the Fading of Superstition in the UK Housing Market
- House prices, fertility rates, and homeownership: Evidence from the UK
Interactive maps
To be added.