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An Institutional Perspective on Property Research

Author/s: David R. R. Parker

Date Published: 1/01/2001

Published in: Volume 7 - 2001 Issue 1 (pages 3 - 17)

Abstract

The changing nature of the institutional property investor over the last decade is briefly reviewed and the future profile identified. To determine the institutional perspective on property research, a survey of the ten largest institutional property investors in Australia is undertaken and the results summarised. It is established that institutional property research is principally applied in nature, being focussed on data analysis and interpretation at a general level for current and prospective market conditions. It is further established that institutional property researchers would prefer University research to be pure, focussing on conceptual issues with traditional rigour and providing outputs that can be easily understood and applied. Several observations are then made regarding the scope for further research into a range of areas including risk, forecasting, macro-drivers, leading indicators, debt products and investment process. It is concluded that, from an Australian institutional property research perspective, there is a clear need for Universities to provide thought leadership and for a more formalised research agenda to be developed by academia and industry.

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Keywords

Funds Management - Institutional Investors - Property Research - Valuation

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