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Price formation, mispricing and investment analysis in the property market: A response to “A note on ‘The initial yield revealed: explicit valuations and the future of property investment’”

Andrew Baum (Andrew Baum is Managing Director of Henderson Real Estate Strategy and a part‐time Professor in the Department of Land Management and Development, University of Reading)
Neil Crosby (Neil Crosby is a Professor in the Department of Land Management and Development, University of Reading)
Bryan MacGregor (Bryan MacGregor is MacRobert Professor of Land Economy at the University of Aberdeen)

Journal of Property Valuation and Investment

ISSN: 0960-2712

Article publication date: 1 March 1996

Abstract

Responds to “A note on ‘The initial yield revealed: explicit valuations and the future of property investment’” published in an earlier issue of the Journal of Property Valuation & Investment. Addresses issues raised and develops and extends the organizations of the original paper, in particular: definitions of certain concepts; the determination of value; the need for explicit valuations; price formation in the property market; and the influence of valuation on price. Reiterates the purposes of the original worked example of valuations; produces a corrected version; and in an appendix presents extended solutions and a fuller discussion of the central issues.

Keywords

Citation

Baum, A., Crosby, N. and MacGregor, B. (1996), "Price formation, mispricing and investment analysis in the property market: A response to “A note on ‘The initial yield revealed: explicit valuations and the future of property investment’”", Journal of Property Valuation and Investment, Vol. 14 No. 1, pp. 36-49. https://doi.org/10.1108/14635789610107480

Publisher

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MCB UP Ltd

Copyright © 1996, MCB UP Limited