The development of a simple regional office rent prediction model

Abstract

Attempts to describe the determinants of rent. Describes the initial stages in the development of a regional office rent prediction model which uses readily available data and should aid the investment decision‐making process. Rejects cross‐sectional analysis, preferring time series approaches. Formulates a spatially disaggregated model which allows for delays between changes in user output and changes in user demand, and which reflects the variable adjustment rate between these two factors. Argues that the combined influence of the independent variables in the derived equation can explain up to 97 per cent of the variation in rent over the period examined.

Citation

Gardiner, C. and Henneberry, J. (1989), "The development of a simple regional office rent prediction model", Journal of Valuation, Vol. 7 No. 1, pp. 36-52. https://doi.org/10.1108/EUM0000000003257