000			01947cam a2200265 4500
001			ABS68327
008			041014n2004 000 0 eng u
035			_a(Sirsi) u127693
100			_aColwell, P.
245			_aModelling rental change across key retail investment markets in Britain: valuation and measurement considerations
260			_c2004
490			_aJournal of Property Investment and Finance _v22(5) 2004, 354-385(32)
520			_aCommercial property market models have become increasingly sophisticated. However, the retail sector and analysis of retail markets at the local level have been comparatively neglected. Explores the retail rental change at the local level, focusing on consumer expenditure as the key determinant of change. Investigates the appropriateness of proxy variables and explores the mechanisms of rental change which highlights issues and difficulties unique to local level analysis. The article then investigates the relationship between rental change and underlying changes in consumer expenditure. The stability of a panel model of rental change is examined, with differences in market functioning identified across diverse groups of key local retail investment markets. These differences highlight the re-emergence of northern markets during the economic decline and recovery phases of the 1990s. Rental levels in larger and smaller markets are also seen to respond to changes in consumer expenditure to significantly different degrees, in periods of both increase and decline. References. Appendices. [Taken from journal abstract].
590			_aABS
590			_aABS
650			_aRENTAL VALUE
650			_aRETAIL INVESTMENT
650			_aLOCAL SHOPS
650			_aCONSUMER EXPENDITURE
650			_aCHANGE MANAGEMENT
650			_aPROPERTY-COMMERCIAL PROPERTY-RETAIL PROPERTY-RETAIL PROPERTY MARKET
690			_aCOMMERCIAL PROPERTY-RETAIL
700			_aJackson, C.
942			_n0
999			_c118154 _d118154