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Addae-Dapaah, K and Ching, W H (2003) Effects of property acquisition and disposal on property stock value. Journal of Financial Management of Property and Construction, 8(03), 139–54.

Chau, K W, Wong, S K and Yiu, C Y (2003) Price discovery function of forward contracts in the real estate market: an empirical test. Journal of Financial Management of Property and Construction, 8(03), 129–38.

Dowse, G (2003) Qualitative residential market forecasts: the Auckland experience. Journal of Financial Management of Property and Construction, 8(03), 193–201.

Hui, E C M and Yiu, C Y (2003) Market dynamics of private residential real estate price - an empirical test in Hong Kong. Journal of Financial Management of Property and Construction, 8(03), 155–66.

Newell, G and Karantonis, A (2003) The predictive accuracy of investor sentiment for commercial property in Australia. Journal of Financial Management of Property and Construction, 8(03), 117–28.

  • Type: Journal Article
  • Keywords: investor sentiment; commercial property; predicted versus actual performance; accuracy; benchmarking; naïve strategies; Australia
  • ISBN/ISSN: 1366-4387
  • URL: http://www.emeraldinsight.com/journals.htm?issn=1366-4387
  • Abstract:
    Accurate property forecasting is essential for effective asset allocation in investment portfolios, as well as within a property investment strategy. Using the Jones Lang LaSalle investor sentiment surveys over 1991-2000, commercial property investor sentiment is compared with actual property performance to assess the predictive accuracy of investor sentiment for commercial property in Australia. Investor sentiment is seen to be more effective in assessing property sectors than geographic regions, as well as being more accurate for those property markets for which institutional investors have their largest property portfolio allocations. Naïve measures of investor sentiment are also shown to perform at least as well as the current investor sentiment procedures, as well as there being little evidence of improved accuracy for investor sentiment in recent years.

Parker, D, MacFarlane, J, Peng, V and Murray, J (2003) Forecasting property market cycles: An application of the RICS model to the Sydney CBD office market. Journal of Financial Management of Property and Construction, 8(03), 178–92.

Pornchokchai, S and Perera, R (2003) Housing market in Bangkok after the financial crisis of 1997: lessons learned from the perspective of housing developers. Journal of Financial Management of Property and Construction, 8(03), 167–78.