The IPF welcomes research proposals from those looking to undertake research in Real Estate Investment. The Research Programme aims to address 'industry issues' and, in doing so, support the wider objectives of the Forum to enhance the knowledge, understanding and efficiency of property as an investment. Research proposals are considered by the IPF Research Steering Group, a committee of industry practitioners with a wealth of experience in both research and practice.
The types of research ideas that the IPF will consider taking forward will be those that meet the IPF's overall aims to enhance the knowledge and understanding of property as an investment asset class (both to property professionals, and to those outside property), or that supports or develops: new or improves existing forms of real estate investment; improvements in the functioning of the property investment market in the UK; or the activities of the IPF. Preference will be given to proposals that: improve the functioning and efficiency of the market; ensure property receives a fair hearing with investment asset allocators; or provide a sound empirical platform for initiating and informing debate at the highest levels of government.
In terms of research themes, specific areas of interest comprise:
- Asset allocation
- Portfolio selection
- Asset management
Additionally, the Research Programme seeks to support five issues of concern identified by the IPF membership, being to enhance the understanding of:
- How property is financed and funded
- The impact of regulation and legislation
- Internationalisation of real estate
- Residential property investment
Proposals that clearly specify how the findings of such research are to be disseminated and, where applicable, how researchers will engage with industry practitioners to encourage the adoption of new approaches will be looked on with greater favour.IPF Research Programme research submission guidelines
If you would like to discuss a potential research proposal prior to submission, please contact Pam Craddock, IPF Research Director.
Proposals have been invited for the following research that the IPF wishes to commission:
The Size & Structure of the UK Property Market 2018
The IPF first published research into the size and structure of the UK property market in 2005, which established a method of estimation and compiled data to provide breakdowns by property type, location and investor type, as well as comparing the investment market with the size of the overall UK stock of commercial property and other investment markets.
This research underwent a major update in 2013 and the IPF now considers it timely to commission a thorough review, to provide more detailed assessments consistent with the comprehensive project undertaken five years ago, as well as a rigorous review of methodologies, exploring new sources and techniques that have emerged over the 13 years since the 2005 study.
The research should seek to incorporate new techniques and sources of data to improve some of the existing estimates. Other aspects to be covered by this latest review should comprise:
- disaggregation of “other commercial”;
- an extension to the range of estimates to include, for example, major cities and the residential sector;
- more detailed analysis of the value of UK commercial property held by collective investment schemes and defined-contribution pension scheme exposures.
Additionally, the methodology should incorporate a “short-cut” process for updating core figures on an annual basis and bidders are invited to put forward their proposals for undertaking such future research.
The deadline for submissions is close of business, Monday 25 June 2018.IPF Size & Structure of the UK Property Market Invitation to Tender (May 2018)
Proposals received in respect of the following projects are currently being evaluated and appointments will be announced shortly.
Evolution of Sector Allocations
Much has been written about the current state of US retail, in particular the health of its regional malls. The impact of e-commerce has also been extensively discussed. However, there has been less of a dialogue on the influence of omni-channel retailing or the potential consequences this may have on allocations to the retail sector from an investment perspective.
Occupational Drivers of Investment Performance in Real Estate Sectors
Given the importance of income as a component of real estate returns, the IPF wishes to commission a series of studies across a range of property types, to identify key characteristics that drive tenant demand, commencing with the logistics sector. Researchers are expected to provide original insights into the subject, with the focus on the investment implications of change to sector performance.
Current Practices in Benchmarking Real Estate Investment Performance
Heriot-Watt University has been commissioned to investigate the range and application of benchmarks within private real estate as an asset class. The research will examine the selection, composition and use of benchmarks by a range of investor types in the context of UK market practice. For further information on this project, click here.
Scheduled for publication Q3 2018
Long-term Valuation Methodologies in Real Estate Lending
The University of Cambridge has been commissioned to interrogate and develop the findings from previous work by the PIA Debt Group Long Term Value group to develop the concept of a long term value methodology. For further information on this project, click here.
Scheduled for publication Q2 2019
UK Residential Attitudes and Investment Survey 2018
This annual survey monitors the level of current exposure, investment intentions and barriers to investment in UK residential property. The online survey of institutional and large scale investors will commence shortly.
Scheduled for publication Q3/Q4 2018