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Econometric forecasting model for rents in the British retail property market

Author

Listed:
  • Silver, M
  • Goode, M

Abstract

This paper develops a model for forecasting rents for the UK retail property market. The model is estimated at both the national and regional level using OLS and SURE respectively. Particular attention is devoted to the multicollinearity of the model, an issue often not considered in multivariate forecasting since the predicted values of models suffering from multicollinearity are unbiased. However, the question of the stability of the multicollinearity is often ignored. This paper draws attention to this problem in the context of this application.

Suggested Citation

  • Silver, M & Goode, M, 1990. "Econometric forecasting model for rents in the British retail property market," Omega, Elsevier, vol. 18(5), pages 529-539.
    • Handle: RePEc:eee:jomega:v:18:y:1990:i:5:p:529-539
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    Citations

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    Cited by:

    1. Nanda Nanthakumaran & Craig Watkins & Allison Orr, 2000. "Understanding Property Market Dynamics: Insights from Modelling the Supply-Side Adjustment Mechanism," Environment and Planning A, , vol. 32(4), pages 655-671, April.
    2. Peter Englund & Ake Gunnelin & Patric H. Hendershott & Bo Soderberg, 2005. "Adjustment in Property Space Markets: Estimates from the Stockholm Office Market," NBER Working Papers 11345, National Bureau of Economic Research, Inc.
    3. John Henneberry & Tony McGough & Fotis Mouzakis, 2005. "The Impact of Planning on Local Business Rents," Urban Studies, Urban Studies Journal Limited, vol. 42(3), pages 471-502, March.
    4. Catherine Jackson & Craig Watkins, 2007. "Supply-Side Policies and Retail Property Market Performance," Environment and Planning A, , vol. 39(5), pages 1134-1146, May.
    5. Catherine Jackson, 2001. "A Model of Spatial Patterns across Local Retail Property Markets in Great Britain," Urban Studies, Urban Studies Journal Limited, vol. 38(9), pages 1445-1471, August.

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