Emerald Group Publishing Limited
Article Type: Editorial From: Property Management, Volume 32, Issue 5
This last issue of Property Management for 2014 completes a year in which the Journal has once again addressed a wide range of topics of interest to property managers and researchers. The publication of property-related research is changing, with researchers placing much less emphasis on presenting papers for inclusion in conference proceedings and much more on publication in internationally recognised journals. Researchers are seeking to publish in the more highly ranked journal and competition among these journals is increasing. In response to the growing volume of research seeking publication, the number of new journals has also increased. The international reputation of the Emerald Built Environment suite of journals continues to grow, reflecting the quality of research published in these journals. Property Management has shared in this with now wide international recognition; its readers are located in most regions of the world; it has a growing number of research paper downloads occurring, particularly in the Asian region; paper citations continue to grow and so does the level of international collaboration exhibited. Of particular note, this year was the reassessment of the journal ranking by the Australian Business Deans Council in which Property Management was lifted to a “B” ranking and now sits among the top property-related journals included in this widely used index.
This issue highlights the wide geographical spread that research in property management issues covers, with papers from Australia, New Zealand, Canada, Finland and the UK. The papers cover aspects of professional practice as well as both commercial and residential property management.
The first paper in this issue comes from the UK and is a case study undertaken by Graham Squires from the University of Birmingham and Norman Hutchins from the University of Aberdeen. The paper explores the process of Tax Increment Funding, a process by which local authorities can effectively ring-fence taxes based on predicted property value increases in order to finance infrastructure works. The study is based on interviews conducted in San Francisco and on literature from the UK.
The second paper is a good example of collaborative research with authors coming from top ranked universities in four different countries, including Cambridge in the UK, ANU in Australia, Regina in Canada and National Tsing Hua University in Taiwan. The paper is entitled “Volatility Clustering in Land Markets” and reports on the volatility in land markets after the global financial crisis. The study focuses on the Canadian market and on ten major provinces. The findings support the theory that volatility clustering occurs more in the densely populated regions and, as such, has implications for investors in those markets.
Paper three in this issue is a paper by researchers at Griffith University in Australia led by Professor Chris Guilding. Issues relating to the management of large multi-tenanted buildings are receiving increasing attention as population density increases in many major cities and as a consequence housing density increases. This paper looks at the psychological aspects of strata title living and evaluates the needs fulfillment for residential occupiers within these medium and high density apartment blocks. The study is based on qualitative interviews from a small representative sample of recent buyers entering strata title ownership. The findings have significant implications for those considering relocating to this type of residential accommodation and for those responsible for the ongoing property management of these residential blocks.
The fourth paper is written by Jussi Vampari and Seppo Junnila from Aalto University in Finland. This paper seeks to identify the value of waiting to invest/divest in residential markets. It explores the option pricing approach to residential investment in which the investment decision should be undertaken only if it can justify giving up the value of the option to wait. The research is based on a case study of Icecapital, which is a real estate fund operating in the Nordic countries with 1,582 apartments within 29 properties.
The final paper comes from Raewyn Hills and Deborah Levy from the Department of Property within the Business School at Auckland University. The paper is an investigation into how knowledge workers utilise office space and the role that workplace design plays in influencing worker productivity. The research is a case study which uses in-depth interviews with knowledge workers within an organisation which is undergoing change from a traditional workspace to one of much higher density with more communal spaces. The paper provides a useful insight into the attitudes of workers to workspace change.
I trust that you find the range of research papers presented in this issue of Property Management interesting and informative and I would encourage you to present your research for inclusion in the Journal in 2015. I would also welcome any feedback on the papers that are presented, or the future development of the Journal to meet the needs of both researchers and practitioners.
Clive M.J. Warren