Rent Adjustments and Forecasts in the Industrial Market

Robert Thompson and Sotiris Tsolacos ()
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Sotiris Tsolacos: University of Reading Reading, RG6 6AW, UK, http://www.reading.ac.uk/

Journal of Real Estate Research, 1999, vol. 17, issue 2, 151-168

Abstract: This study estimates models of industrial rents at the national level in Great Britain. James Lan Wooten and CB Hillier Parker rent indices are used to model changes in real rents. These changes are positively related to changes in real GDP and inversely affected by absorption, as measured by King Sturge & Co. Additionally, changes in rents convey information not captured by GDP and absorption. The lagged effects of the variables differ for each index, attributable to the construction methodologies followed. Dynamic forecasts for both models show a small overprediction in 1996 and 1997. Ex ante forecasts suggest that both will show positive real growth throughout 1998 and 1999.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1999
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