Classifying Local Retail Property Markets on the Basis of Rental Growth Rates

摘要: Diversification strategies for the property element of portfolios have traditionally been undertaken on a sectoral/regional basis, primarily due to data restrictions. However, standard regions in UK are defined administrative purposes and likely, therefore, be composed heterogeneous markets. The development an alternative classification, based local markets, is investigated. This annual retail rental growth rates developed using cluster analysis. A number issues emerge. Throughout various stages tests temporal stability, markets group according broad underlying drivers. more tightly clusters unstable over time as consequence volatility at level. It clear that do not form groups conforming geographical widely analysed basis diversification.