Property Market Analysis
- Module code
- Module leader
- Simon Huston
- Module level
- Module credits
- Min study time
- 150 hours
- Contact Hrs within study time
- 35 hours
- Teaching period
- Semester 2
In the mid-1980s, many property market specialists saw little point in studying economics and its application to property market. A good illustration of this is the comment by a senior surveyor that surveying students should not waste time studying macroeconomics and finance but should, instead, learn about the property market. The academic view was no less encouraging. Property economics and finance were seen by many as, at best, a backwater.
Property markets are a major component of the UK and global economies. However, property markets are imperfect and operate in often a parochial context. Decision making is hampered by lack of market intelligence, exposing participants to significant risk. Great progress has been made over the last 30 years in improving market knowledge through ever more sophisticated analysis tools and reporting methods. An understanding of the range and scope of this property market analysis is important for all those likely to be active in the markets as participants or advisors.
This module builds on knowledge gained in the Property Economics module from the first year. As the title implies this module focuses on property markets and initially examines what has been and is happening in a number of the property sectors. Typically it examines Residential; Commercial; Industrial; Rural; Leisure (hotels, golf courses, holiday parks etc.), and International property markets. It involves analysis and presentation of market performance, reports, indices and benchmark. Subsequently the programme will analyse market performance and risk so that students should have sound knowledge of the property markets and be able to give advice.
To achieve credit for this module, students must be able to:
- Critically examine market data to identify performance and trends;
- Evaluate the likely impact of changes in the economy on market performance;
- Explain the interactions of the UK property market and the macro economy.
|Coursework||Literature review - market analysis||50%|
|Coursework||In-class test – market analysis||50%|
Students should be familiar with the content of at least one of the following:
- Ball, M., Lizieri, C. and McGregor, B. D. (1998) The Economics of Commercial Property Markets. Routledge, pp.416.
- Brooks, C. and Tsolacos, S. (2010) Real Estate Modelling and Forecasting. Cambridge University Press, 1 ed., pp.474.
- Jowsey, E. and Harvey, J. (2003) Urban Land Economics. Palgrave Macmillan,6 ed., pp.480.
- Beardshaw, J., Brewster, D., Cormack, P. and Ross, A. (2001) Economics: A Student’s Guide. Financial Times/ Prentice Hall, 5 ed., pp.760.
- Jadevicius, A., & Huston, S. H. (2014) Education Briefing: A ‘Family of cycles’ - major and auxiliary business cycles. Journal of Property Investment & Finance, Vol.32, No.3, pp.6-6.
- Jadevicius, A., Sloan, B. and Brown, A. (2013) Property market modelling and forecasting: a case for simplicity. In: 20th Annual Conference of the European Real Estate Society (ERES), Vienna, Austria, pp.10.
- Koop, G. (2006) Analysis of Financial Data. John Wiley & Sons, pp.252.
- Stutely, R. (2010) The Economist Guide To Economic Indicators: Making Sense of Economics. Economist Books 7 ed., pp.256.