Real Estate Insights: Location matters – real estate submarkets in the work of Bryan MacGregor

Steven C. Bourassa and Martin Hoesli

Journal of Property Investment & Finance, 2026, vol. 44, issue 3, 205-207

Abstract: PurposeThis paper highlights Bryan MacGregor's contribution to the literature on the definition of real estate submarkets in the context of hedonic house price analysis and commercial property investment diversification.Design/methodology/approachThis paper provides a summary and discussion of Bryan's work on real estate submarkets, focusing on three of Bryan's published research papers.FindingsBryan's publications include an application of principal components analysis and cluster analysis to the definition of housing submarkets for hedonic modelling purposes. They also include studies of the usefulness of cluster analysis for commercial property investment diversification. Although Bryan is best known for his work on commercial property markets, his most-cited work is the paper on housing submarkets.Originality/valueThis paper calls attention to Bryan's contribution to research on real estate submarkets, particularly the analysis of housing submarkets.

Keywords: Bryan MacGregor; Real estate submarkets; Hedonic modelling; House prices; Commercial property portfolios (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jpifpp:jpif-02-2026-0026

DOI: 10.1108/JPIF-02-2026-0026

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