Local commercial and industrial rental trends and property market constraints

Colin Jones, Allison Orr

    Research output: Contribution to journalArticle

    26 Citations (Scopus)

    Abstract

    The paper assesses the differential impact of property market constraints on the long-run rental trends in each of the commercial and industrial property market sectors. The perceived view that supply constraints are very inelastic in the retail sector, less so for offices and elastic for industrial properties is reconsidered. A series of hypotheses are derived and tested by an analysis of variance technique which decomposes rental change into local and national components. The paper concludes that changes in the pattern of spatial activity and specific property market processes have resculptured the nature of supply constraints. The result is that the spectrum of supply elasticities has narrowed.

    Original languageEnglish
    Pages (from-to)223-237
    Number of pages15
    JournalUrban Studies
    Volume36
    Issue number2
    DOIs
    Publication statusPublished - 1999

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