Development of Transit Oriented Development (TOD) precincts in the Australian context has been hindered by several obstacles. The main challenges to be addressed are land amalgamation issues around train stations and the lack of governance arrangements to facilitate the delivery of TODs. This article identifies the main factors contributing to the effective delivery of three Australian TODs. The article is based on the analysis of case studies in Brisbane, Melbourne and Sydney. Based on semi-directed interviews with urban stakeholders (planners at the council level and state level, and developers) for each case study and on the analysis of official planning documents, we analyse the governance arrangements, the planning frameworks and the financial mechanisms that have facilitated the delivery of the case study TODs. We also survey stakeholders to assess the general TOD delivery process and outcomes on different criteria, to better inform TOD policymaking. We find that large sites in single ownership and special state government measures to facilitate development approvals have been critical factors in TOD success.

Purpose: – This paper aims to investigate Lithuanian house price changes. Its twin motivations are the importance of information on future house price movements to sector stakeholders and the limited number of related Lithuanian property market studies.Design/methodology/approach: – The study employs ARIMA modelling approach. It assesses whether past is a good predictor of the future. It then examines issues relating to an application of this univariate time-series modelling technique in a forecasting context.Findings: – As the results of the study suggest, ARIMA is a useful technique to assess broad market price changes. Government and central bank can use ARIMA modelling approach to forecast national house price inflation. Developers can employ this methodology to drive successful house-building programme. Investor can incorporate forecasts from ARIMA models into investment strategy for timing purposes.Research limitations/implications: – Certainly, there are number of limitations attached to this particular modelling approach. Firm predictions about house price movements are also a challenge, as well as more research needs to be done in establishing a dynamic interrelationship between macro variables and the Lithuanian housing market.Originality/value: – Although the research focused on Lithuania, the findings extend to global housing market. ARIMA house price modelling provides insights for a spectrum of stakeholders. The use of this modelling approach can be employed to improve monetary policy oversight, facilitate planning for infrastructure or social housing as a countercyclical policy and mitigate risk for investors. What is more, a greater appreciation of Lithuania housing market can act as a bellwether for real estate markets in other trade-exposed small country economies.

Purpose: – The paper aims to discuss the major and auxiliary types of cycles found in the literature.Design/methodology/approach: – The existence of cycles within economy and its sub-sectors has been studied for a number of years. In the wake of the recent cyclical downturn, interest in cycles has increased. To mitigate future risks, scholars and investors seek new insights for a better understanding of the cyclical phenomenon. The paper presents systematic review of the existing copious cyclical literature. It then discusses general characteristics and the key forces that produce these cycles.Findings: – The study finds four major and eight auxiliary cycles. It suggests that each cycle has its own distinct empirical periodicity and theoretical underpinnings. The longer the cycles are the greater controversy which surrounds them.Practical implications: – Cycles are monumental to a proper understanding of complex property market dynamics. Their existence implies that economies, whilst not deterministic, have a rhythm. Cyclical awareness can therefore advance property market participants.Originality/value: – The paper uncovers four major and eight auxiliary types of cycles and argues their importance.

The dissemination of robust real estate data can help to improve market efficiency and investment analysis. To provide a perspective on property prices, a long series is vital. While long commercial and residential real estate data series are available, agricultural land is less well served. Comparable series describing long-term price and return histories for farmland in England are fragmented. We redress this data deficiency after considering the methodological complexities involved. The study employs a chain-linking approach to construct a long-term farmland price series for England. It then adjusts the series for inflation to examine real land prices. The resulting two-century series of English farmland prices establishes a basis for a more efficient farmland market analysis. Notwithstanding issues around long-run chain component heterogeneity, the combined series illuminates English average farmland price dynamics and changing land market fortunes. For more than two centuries English land price real capital returns were positive. Farmland real price growth was 0.33 per cent annually from 1781 to 2013 and 0.71 per cent from 1801 to 2013 as measured by the geometric mean. The series provides prima facie support for land investment, even when ignoring spatial peri-urban opportunities, rental income or tax advantages.

Purpose: The purpose of this paper is to investigate the limitations and potential usefulness of a “knowledge city” concept as diversification vehicle for property investors.Design/methodology/approach: The paper first dissects the “knowledge city” concept and then investigates whether it inoculates against economic turbulence as measured by growth and jobs recovery. The paper also looks at the protection offered by middle class population growth.Findings: The idea of the “knowledge city” comes from earlier economic constructs but concentrated at the urban scale. There are two versions – a technical and one enriched with institutional and social dimensions. The limited analysis of selective secondary data suggests that “knowledge city” and strong middle class population growth provide some protection from economic and, presumably, property market instability.Research limitations/implications: Statistical limitations include arbitrary sample frames; lack of data and unclear spatial resolution, short time frames for aggregate analysis. Further research requires, first, a structured grading of knowledge precincts and, second, randomised sampling of individual properties to investigate any links between total risk‐adjusted performance is measured over a decade.Practical implications: To mitigate risk, investors should consider re‐weighting their portfolios to increase exposure to knowledge cities and second‐tier but fast growing cities in emerging countries.Social implications: A knowledge‐city cannot be imposed by infrastructure, technology or place configuration alone. It involves multiple precinct configurations and subsidiarity. Institutions and people matter. A broader knowledge‐city conceptualisation helps inform planning, management and oversight for regional second‐tier cities.Originality/value: Dissecting, noting the limits and drawing out the practical implications of the “knowledge city” concept.