Real Estate Insights Cash flows or cap rates?

It is over 10 years since we produced the third edition of Property Investment Appraisal, over 30 years since the first edition was published in 1988, and now (apparently!) 40 years since I edited the first edition of the Journal of Property Investment and Finance (then called the Journal of Valuation) in 1981. Hopefully, there is some coherence in the editorial stance of the journal and the book.

All of the book editions seem to have coincided with peaks and troughs in the UK property market; this may be no accident, as we learn a lot through these...