Trends in office rents in the City of London: 1867-1959
This paper details the construction and analysis of a dataset of office lettings, which is used to produce a rent index for the City of London spanning the late nineteenth and early twentieth centuries. It advances prior research through application of a modern version of the repeat measures technique and in coverage of years where office rents have not been previously measured. Results show that there has been no real growth in rents over the period as a whole. However, there have been distinct phases of rental growth and decline that correspond with the wider economic fortunes of the City.
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- Gatzlaff, Dean H & Haurin, Donald R, 1997. "Sample Selection Bias and Repeat-Sales Index Estimates," The Journal of Real Estate Finance and Economics, Springer, vol. 14(1-2), pages 33-50, Jan.-Marc.
- Klovland, Jan Tore, 2009. "New evidence on the fluctuations in ocean freight rates in the 1850s," Explorations in Economic History, Elsevier, vol. 46(2), pages 266-284, April.
- Ronald W. Kaiser, 1997. "The Long Cycle of Real Estate," Journal of Real Estate Research, American Real Estate Society, vol. 14(3), pages 233-258.
- Goetzmann, William Nelson, 1992.
"The Accuracy of Real Estate Indices: Repeat Sale Estimators,"
The Journal of Real Estate Finance and Economics,
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- Goetzmann, W.N., 1990. "The Accuracy Of Real Estimate Indices: Repeat Sale Estimators," Papers fb-_90-17, Columbia - Graduate School of Business.
- William C. Wheaton & Mark S. Baranski & Cesarina A. Templeton, 2009. "100 Years of Commercial Real Estate Prices in Manhattan," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(1), pages 69-83.
- Robert J. Shiller, 1991. "Arithmetic Repeat Sales Price Estimators," Cowles Foundation Discussion Papers 971, Cowles Foundation for Research in Economics, Yale University.
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