Consumer Behaviour in the Valuation of Residential Property: A Comparative Study in the UK, Ireland and Australia

Research conducted to PhD level investigates consumer behaviour in the valuation of residential property. The research, which utilises a qualitative methodology, is conducted on a cross-national comparative basis in the United Kingdom, Ireland and Australia. Initially the behaviour of residential homebuyers' is explored with personal interviews conducted with residential homebuyers in the three countries. Consumers' reaction to demand-related factors is investigated with further work considering valuers' and whether they display any obvious differences in practice to reflect differences in buyer perception. Specifically, economic and financial sustainability is considered in terms of the residential valuation process used by valuers, who are employed by the main mortgage lenders in the countries studied. Economic sustainability features highly in the home buying decision-making process used by residential homebuyers in Australia. Whether buyers behave similarly across the three countries is investigated as is the behaviour displayed by valuers in terms of buyer perceptions. The research adopts a qualitative approach utilising personal interviews as its main research instrument. Generally, in the past comparative research has been qualitatively oriented, as it is not normally involved in testing theory. Rather it is designed to generate and/or apply theory that is then interpreted. The use of videoconferencing in the data collection process is also reported. The practical and educational implications arising from the research are discussed with the opportunity for further research arising from the study outlined.