A critical review of methodologies for measuring rental depreciation applied to UK commercial real estate

Journal of Property Research

Volumn 16, Issue 2, 1999, Pages 153-180

  Dixon, Timothy J ^a   Crosby, Neil ^b   Law, Victoria K ^b  

^a University College of Estate Management   (United Kingdom)

^b UNIVERSITY OF READING   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

INVESTMENT; PROPERTY MARKET; RENTAL SECTOR;

UNITED KINGDOM;

EID: 0032772360     PISSN: 09599916     EISSN: 14664453     Source Type: Journal    
DOI: 10.1080/095999199368201     Document Type: Article

References (39)

1. Akerman, S.R. (1973) Used Cars as a Depreciating Asset, Western Economic Journal 11 (Dec), 463-74.
2. Archer, W.R. and Smith, M.T. (1992) Filtering in Office Markets: Evidence for Medium Sized Cities, Journal of Real Estate Research 7(2), 125-38.
3. Barras, R. and Clark, P. (1996) Obsolescence and Performance in the Central London Market, Journal of Property Valuation and Investment 14(4), 63-78.
4. Baum, A. (1991) Property Investment Depreciation and Obsolescence, Routledge, London.
5. Baum, A. (1997) Trophy or Tombstone? A Decade of Depreciation in the Central London Office Market, Lambert Smith Hampton and HRES, London.
6. Blandon, P.R. and Ward, C. (1978) Expectations in the Property Market, The Investment Analyst 52, 24-30.
7. CALUS (1986) Depreciation of Commercial Property, College of Estate Management, Reading.
8. Chinloy, P.T. (1977) Hedonic Price and Depreciation Indexes for Residential Housing: A Longitudinal Approach, Journal of Urban Economics 4, 469-82.
9. Coen, R.M. (1975) Investment Behaviour, The Measurement of Depreciation, and Tax Policy, The American Economic Review 65 (March) 59-74.
10. Crosby, N. and Murdoch, S. (1997) The Influence of Procedure on Rent Determination in the Commercial Property Market of England and Wales, RICS Cutting Edge Conference, Dublin, September.
11. DeLeeuw, F. (1981) Discussion of Hulten and Wykoff (1981a), in Depreciation, Inflation and the Taxation of Income from Capital, (edited by C.R. Hulten), Urban Institute Press, Washington DC.
12. Diggle, P.J., Liang, K.V. and Zager, S.L. (1995) Analysis of Longitudinal Data, Oxford University Press, Oxford.
13. Ellis, R. (1990) The Case for Property, Richard Ellis Chartered Surveyors.
14. Fieldstein, M.S. and Rothschild, M. (1974) Towards an Economic Theory of Replacement Investment, Econometrica 42(3), 393-423.
15. Flanagan, R., Norman, G., Meadows, J. and Robinson, G. (1989) Life Cycle Costing: Theory and Practice, BSP Professional Books, London.
16. Goldstein, H. (1979) The Design and Analysis of Longitudinal Studies, Academic Press, London.
17. Grebler, L., Blank, D. and Winnick, L. (1956) Capital Formation in Residential Real Estate, Princeton University Press, Princeton, USA.
18. Griliches, Z. (1960) The Demand for a Durable Input: US Farm Tractors, 1921-57, in The Demand for Durable Goods (edited by A. Harberger), University of Chicago Press, Chicago.
19. Hall, R. (1968) Technical Change and Capital from the Point of View of the Dual, Review of Economics and Statistics 35, 35-46.
20. Hall, R. (1971) The Measurement of quality change from Vintage Price Data, in Price Indexes and Quality Change (edited by Z. Griliches), Harvard University Press, Cambridge, Mass.
21. Hotelling, H. (1925) A General Mathematical Theory of Depreciation, Journal of the American Statistical Society 20, 340-53.
22. Hulten, C.R. and Wykoff, F.C. (1976) The Economic Depreciation of Non-Residential Structures - Working Paper in Economics No. 16, Johns Hopkins University, Baltimore, MA.
23. Hulten, C.R. and Wykoff, F.C. (1980) Economic Depreciation and the Taxation of Structures in US Manufacturing Industries: An Empirical Analysis, in The Measurement of Capital (edited by D. Usher), University of Chicago Press, Chicago.
24. Hulten, C.R. and Wykoff, F.C. (1981a) The Measurement of Economic Depreciation, in Depreciation, Inflation and the Taxation of Income from Capital (edited by C.R. Hulten), Urban Institute Press, Washington DC.
25. Hulten, C.R. and Wykoff, F.C. (1981b) The Estimation of Economic Depreciation using Vintage Price Assets’, Journal of Econometrics 15, 367-96.
26. Hulten, C.R. and Wykoff, F.C. (1996) Issues in the Measurement of Economic Depreciation: Introductory Remarks, Economic Inquiry 34, 10-23.
27. Jones Lang Wootton (1986) Obsolescence: The Financial Impact of Property Performance, JLW Research Paper.
28. Jorgenson, D. (1996) Empirical Studies of Depreciation, Economic Inquiry 34, 24-42.
29. Khalid, Abd Ghani (1992) ‘Hedonic Price Estimation of The Financial Impact of Obsolescence on Commercial Office Buildings’, PhD thesis, University of Reading, Construction Management.
30. Leigh, W.A. (1979) The Estimation of Tenure-Specific Depreciation/Replacement Rates Using Housing Quantity Measures for the US 1950-70, The Quarterly Review of Economics and Business, 19, 49-59.
31. Malpezzi, S., Ozanne, L. and Thibodeau, T.G. (1987) Microeconomic Estimates of Housing Depreciation, Land Economics 63(4), 372-85.
32. Oliner, S.D. (1996) New Evidence of the Retirement and Depreciation of Machine Tools, Economic Inquiry 34, 57-77.
33. Povall, S. (1986) Building Design. Paper presented at CALUS Conference, September 17.
34. Ramm, W. (1970) Measuring the Services of Household Durables: The Case of Automobiles, in Proceedings of the Business and Economics Statistics Section of the American Statistical Association.
35. Salter, W.E.G. (1966) Productivity and Technical Change, Cambridge University Press, Cambridge, England.
36. Taubman, P. and Rasche, R.H. (1969) Economic and Tax Depreciation of Office Buildings, National Tax Journal 22, 334-46.
37. Weatherall Green and Smith (1985) Depreciation for Investors, Economic and Property Briefing, February.
38. Wykoff, F.C. (1970) Capital Depreciation in the Postwar Period, Review of Economics and Statistics 52, 168-72.
39. Young, A.H. and Musgrave, J.C. (1980) Estimation of Capital Stock in the USA, in The Measurement of Capital (edited by D. Usher), University of Chicago Press.