Epilogue: Some Personal Views

Angus P. J. McIntosh and Stephen G. Sykes

A chapter in A Guide to Institutional Property Investment, 1985, pp 309-315 from Palgrave Macmillan

Abstract: Abstract The general standard of mathematical understanding amongst investors and advisers is often surprisingly low. It is therefore no wonder that archaic valuation methods are vehemently defended by reasoning which may have been credible 30 or more years ago, but which appears oddly anachronistic (not to say erroneous) by modern investment standards. It is probably no exaggeration to state that the majority of valuers do no sufficiently appreciate the basis of the valuation models which they apply. They use the methods which they were taught and the traditions are thus maintained with little thought for the introduction of superior methodology. Almost surely alone, property as a major capital market has determinedly failed to seek out and adopt newer methods of appraisal to suit the more modern and increasingly aggressive investment conditions. Still it attempts to shelter behind its self-imposed facade of implacable mystique.

Keywords: Capital Gain; Valuation Model; Property Market; Institutional Property; Historic Performance (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07154-8_15

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DOI: 10.1007/978-1-349-07154-8_15

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