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Real estate and planning
 Research Division

Prosperity and Resilience Research Theme

Research to shape our urban future


Real Estate and Planning is the largest of six Research Divisions within Henley Business School and is part of the University’s Prosperity and Resilience research theme.

Established in 1968, it is one of the few departments for Real Estate and Planning housed within a business school and brings together the disciplines of Real Estate and Planning within the context of economics, finance, business, society, environment, ethics, governance and policy.

It is predicted that three-quarters of the world population will be urban by 2050, making more sustainable real estate development, investment, land and resource use, and spatial planning, critically important to deliver pressing environmental, social and governance priorities.

Our close relationships and engagement with a diverse range of industry, government and professional partners, enable our evidence-based applied research to have a significant impact on practices and policies in the UK and internationally in areas including: property valuation, commercial real estate and financial stability, mortgages, rents and values of energy–efficient buildings, property appraisal, procurement, development viability, land value capture, affordable housing provision, neighbourhood planning, localism and local industrial strategies, regeneration of town centres, urban health and wellbeing, elderly cycling, sustainability of global city regions, and lower carbon economies.

Wide societal and academic engagement and impact is promoted through dissemination of our research to lay public, academic, student and alumni communities.

Through our collaborations in international research networks and other Reading research centres, including the Walker Institute Interdisciplinary Climate Research Centre and the Institute for Environmental Analytics, our portfolio also addresses a broad range of cross–disciplinary environmental, social and governance challenges. Together with the School of Built Environment, our research addresses four inter-linked priority areas for sustainability in the built environment – ‘Planet’, ‘‘Place’, People and ‘Prosperity’:

  • to help reduce the pace of climate change and provide built environment solutions for the planet,
  • enhance the design, management and use of places and property, and 
  • improve the quality of life and economic prosperity of people. 

The Real Estate and Planning vision is to continue to develop its world standing and global reach in making a positive impact on business, policy and society through its research on resilient and equitable development, investment, management and finance of both commercial real estate and housing. This will include developing research agendas around global and UK cities, the planning, design and governance of places, including the revitalisation of town centres, the financialisation of planning, the capture of development land value and the provision of affordable housing. For further information see the Centre for Real Estate and Planning Research (CREPR). 

Themes

Research operates across three informal thematic groupings:

Environment, Sustainability and Participation

Research includes an array of sustainability challenges: community engagement and neighbourhood planning; planning policy; economic change and resilience; healthy urban living; urban density; and the environment. This includes research in real estate and economic development; land use and spatial planning; governance and regulation; community planning; regeneration; and smart, sustainable cities and city regions.

Work is international in nature and spans both the global north and the global south.

Real Estate Finance & Investment 

Research covers a wide variety of issues concerning direct and indirect real estate investment markets; finance; and alternative asset markets. Work includes studies of housing, including mortgage products and commercial mortgage-backed securities; banking; and debt. There is also a cluster of work around public markets; Real Estate Investment Trusts; liquidity; risk; foreign investment; spatial econometrics of real estate markets, behavioural finance and behavioural economics.

Cross-group investment research with REVLMP includes depreciation and performance measurement/indices.

Real Estate Valuation, Leasing and Market Practice

Research concentrates primarily on commercial property market analysis investment and management, development and appraisal techniques/valuation; integrating housing research into its portfolio with work on affordable housing and viability. Specific research examples include bank lending valuations and methods; commercial leasing; sustainability impacts on value; land value taxation/capture; and land tenure rights.

Other research activities within this theme include the impact of sustainability and energy conservation on house price, energy efficient mortgages.

Housing is a broad interdisciplinary area within the three themes and includes: housing market dynamics; affordable housing and impacts on the vulnerable in society, for example homelessness, supported housing, shared ownership and the impact of the growing private rented sector in the UK. Thus, there are ongoing and related research interests in housing supply/demand, the regulatory environment, planning, and government policies.

research highlights

Breaking the link between commercial real estate lending and global financial crises

Around the world, central banks continue to wrestle with the aftershocks of the global financial crisis in 2007–08. Crashes in property markets were isolated as a major cause in the UK and elsewhere, and Professor Neil Crosby and Dr Steven Devaney have worked to develop property valuation techniques to support the financial stability agenda. Working closely with the Bank of England and the property industry, Crosby and Devaney have developed new applications of appraisal methods and models to enable lending policies to react against the cycle of boom and bust. Parallel work with the RICS in Europe developed guidance for European valuers applying non-standard models of valuation to support bank loans on commercial property. Read the full case study.

Ensuring fair developer contributions for the community

A team led by Professors Neil Crosby, Pat McAllister and Peter Wyatt has been working since 2012 on planning regulations and the contribution developers make to the local community as a condition of planning, with significant effect on planning policy and practice. Their research identified major flaws in the UK policy framework and approach taken in practice guidance to evaluating developer contributions, including affordable housing provision, and resulted in changes to government policy and guidance. Working with Government, the Greater London Authority, several local authorities and industry bodies, Crosby and Wyatt drafted detailed industry guidance to the appraisal of developments and developer contributions based on the new Government guidelines, published in 2018. Read the full case study.

Changing policy and practice to facilitate neighbourhood planning in England

The process of community-led neighbourhood planning in England, which leads to statutory Neighbourhood Development Plans, has been viewed as complex to navigate, with uneven institutional support and uneven take-up across the country. It has also been hailed as a significant democratisation of the planning system. Research at Henley Business School has aimed to address this and has been critical in informing and changing local practice and national policy. It has recommended improvements to the efficacy and transparency in the various stages of Plan production, and helped increase the rate and type of uptake of neighbourhood planning. Read the full case study.

For more impact case studies, please visit the Henley Business School website.

research centres

Centre for Real Estate and Planning Research

find out more

Real Estate and Planning is one of six Research Divisions that are part of Henley Business School.

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Study opportunities

Henley Business School has a vibrant community of about 260 PhD and DBA researchers who are an integral part of the research activities of the School. BISA provides PhD opportunities students from all over the world wanting to conduct full-time postgraduate research in our areas of interest, and we have about 30 PhD students with us at any one time. In addition, we provide a highly sought after DBA programme for those in employment at senior positions. More information.

Stammtisch - an informal meeting

 Four-day week benefits

A four-day working week could make us healthier and help curb climate change writes Professor Anupam Nanda for The Conversation, but we need to ensure it actually cuts emissions.

events

REP organises a lively series of research seminars during term-time. 

Our publications


Our latest research papers and publications can be downloaded from the University’s institutional repository.

 

Contact us

For specific enquiries, please contact:

Research Division Leads

Professor Angelique Chettiparamb

a.chettiparamb@henley.reading.ac.uk

For more information on how the University of Reading can work with your business, please contact:

Email: frontdoor@reading.ac.uk

Telephone: + 44 (0)118 378 5380

Find out how we can support your business
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