Professor Bryan MacGregor
Professor Bryan MacGregor

Professor Bryan MacGregor

BSc (Hons); MSc; PhD; DipSurv; CertHE; MRTPI; MRICS

MacRobert Professor of Land Economy

About

Room S73, Edward Wright Building
Dunbar Street
King’s College
University of Aberdeen
Old Aberdeen
AB24 3QY

Biography

  • 1971 - 75 B.Sc. (Hons) Mathematics; University of Edinburgh
  • 1976 - 78 M.Sc. Environmental Planning; Heriot-Watt University
  • 1978 - 81 Ph.D. Land Economy; University of Cambridge
  • 1992 - 93 Diploma in Surveying (Part-time and distance learning); College of Estate Management, Reading
  • 2000 - 01 Certificate in Higher Education (Cùrsa Comais - Gaelic immersion course); Sabhal Mòr Ostaig, Sleat, Isle of Skye
Research

Research Overview

Property market economics, investment and finance.

Research Areas

Real Estate

Supervising

Research Specialisms

  • Real Estate
  • Economics
  • Financial Economics

Our research specialisms are based on the Higher Education Classification of Subjects (HECoS) which is HESA open data, published under the Creative Commons Attribution 4.0 International licence.

Current Research

  • Modelling US office markets in terms of rent, vacancy rates and new development
  • Fund manager performance
  • An analysis of real estate auction behaviours 
Publications

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  • Do the Managers of Global Real Estate Mutual Funds Have Skills?

    MacGregor, B., Schulz, R., Zhao, Y.
    Journal of Real Estate Research
    Contributions to Journals: Articles
  • Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate

    Black, A. J., Devaney, S., Hendershott, P. H., MacGregor, B. D.
    Journal of Real Estate Literature
    Contributions to Journals: Articles
  • Performance and Market Maturity in Mutual Funds: Is Real Estate Different?

    MacGregor, B. D., Schulz, R., Zhao, Y.
    The Journal of Real Estate Finance and Economics, vol. 63, pp. 437–492
    Contributions to Journals: Articles
  • Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate

    Black, A. J., Devaney, S. P., Hendershott, P. H., MacGregor, B. D.
    Working Papers and Discussion Papers: Discussion Papers
  • Do the Managers of Global Real Estate Mutual Funds Have Skills?

    MacGregor, B., Schulz, R., Zhao, Y.
    Working Papers and Discussion Papers: Discussion Papers
  • Performance and Market Maturity in Mutual Funds: Is Real Estate Different?

    MacGregor, B., Schulz, R., Zhao, Y.
    Working Papers and Discussion Papers: Discussion Papers
  • Global Real Estate Mutual Funds: Managerial Skills and Diversification Benefits?

    MacGregor, B., Schulz, R., Zhao, Y.
    Working Papers and Discussion Papers: Working Papers
  • Introduction to real estate investment

    MacGregor, B. D., Schulz, R., Green, R. K.
    Routledge Companion to Real Estate Investment. MacGregor, B. D., Schulz, R., Green, R. K. (eds.). Routledge, pp. 3-7, 5 pages
    Chapters in Books, Reports and Conference Proceedings: Chapters
  • Pricing models

    MacGregor, B. D., Schulz, R., Zhao, Y. Y.
    Routledge Companion to Real Estate Investment. MacGregor, B. D., Schulz, R., Green, R. K. (eds.). Routledge, pp. 215-231, 17 pages
    Chapters in Books, Reports and Conference Proceedings: Chapters
  • Real options in real estate

    MacGregor, B. D., Schulz, R., Sing, T. F.
    Routledge Comapnion to Real Estate Investment. MacGregor, B. D., Schulz, R., Green, R. K. (eds.). Routledge, pp. 232-250, 19 pages
    Chapters in Books, Reports and Conference Proceedings: Chapters
  • Routledge Companion to Real Estate Investment

    MacGregor, B. D. (ed.), Schulz, R. (ed.), Green, R. K. (ed.)
    Routledge. 346 pages
    Books and Reports: Books
  • An Investigation of Hurdle Rates in the Real Estate Investment Process

    Hutchison, N. E., Lizieri, C., MacGregor, B. D., Mansley, N., Portlock, R., Schulz, R., Zhao, Y. Y.
    Investment Property Forum
    Books and Reports: Commissioned Reports
  • Modelling Office Market Dynamics: Panel Estimation and Comparison of US Metropolitan Areas

    MacGregor, B. D., Hendershott, P. H., Devaney, S., Nanda, A.
    Contributions to Conferences: Papers
  • Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail

    Hendershott, P. H., Jennen, M., MacGregor, B. D.
    The Journal of Real Estate Finance and Economics, vol. 47, no. 4, pp. 659-687
    Contributions to Journals: Articles
  • Modelling office market dynamics: panel estimation and comparison of US metropolitan areas

    MacGregor, B. D., Hendershott, P. H., Devaney, S.
    Contributions to Conferences: Papers
  • Modeling space market dynamics

    MacGregor, B. D., Hendershott, P. H., Jennen, M.
    Chapters in Books, Reports and Conference Proceedings: Conference Proceedings
  • The Sensitivity of UK Commercial Property Values to Interest Rates Changes

    MacGregor, B. D., Nanthakumanran, N., Orr, A. M.
    Journal of Property Research, vol. 29, no. 2, pp. 123-151
    Contributions to Journals: Articles
  • Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail

    MacGregor, B. D., Hendershott, P. H., Jennen, M.
    Contributions to Conferences: Papers
  • Asymmetric adjustment in the City of London office market

    Hendershott, P. H., Lizieri, C. M., MacGregor, B. D.
    The Journal of Real Estate Finance and Economics, vol. 41, no. 1, pp. 80-101
    Contributions to Journals: Articles
  • Analyzing Time Series and Cross Section Rent Data: An Illustration Using US Retail Data

    MacGregor, B. D., Hendershott, P. H., Jennen, M.
    Contributions to Conferences: Papers
  • Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail

    Brounen, D., Hendershott, P., Jennen, M., MacGregor, B.
    AREUEA International
    Contributions to Conferences: Abstracts
  • Height restrictions and the decision to build an office tower

    MacGregor, B. D., Schwann, G.
    AREUEA International Conference
    Contributions to Conferences: Abstracts
  • The inflation hedging characteristics of US and UK investments: A multi-factor error correction approach

    Hoesli, M., Lizieri, C., MacGregor, B.
    The Journal of Real Estate Finance and Economics, vol. 36, no. 2, pp. 183-206
    Contributions to Journals: Articles
  • Evidence on rationality in commercial property markets: an interpretation and critique

    Hendershott, P., Hendershott, R., MacGregor, B.
    Journal of Real Estate Literature, vol. 14, no. 2, pp. 147-172
    Contributions to Journals: Articles
  • Evidence of rationality in commercial property markets: an interpretation and critique

    MacGregor, B. D., Hendershott, P. H., Hendershott, R.
    Working Papers and Discussion Papers: Working Papers
  • In search of commercial real estate bubbles

    Hendershott, P. H., Hendershott, R. J., MacGregor, B. D.
    Research Review (Journal of the International Council of Shopping Centers)
    Contributions to Journals: Articles
  • Investor Rationality: An Analysis of NCREIF Commercial Property Data

    Hendershott, P. H., MacGregor, B. D.
    Journal of Real Estate Research, vol. 27, no. 4, pp. 445-475
    Contributions to Journals: Articles
  • Investor Rationality: Evidence from UK Capitalization Rates

    Hendershott, P. H., MacGregor, B. D.
    .
    Other Contributions: Other Contributions
  • Investor rationality: evidence from UK property capitalization rates

    MacGregor, B. D., Hendershott, P. H.
    Real Estate Economics, vol. 33, no. 2, pp. 299-322
    Contributions to Journals: Articles
  • Time-varying Betas and Cross-Sectional Return-Risk Relation: Evidence from the UK

    Fraser, P., MacGregor, B. D., Hoesli, M. E. R., Hamelink, F.
    European Journal of Finance, vol. 10, no. 4, pp. 255-276
    Contributions to Journals: Articles
  • Appraisal smoothing and price discovery in real estate markets

    Geltner, D., MacGregor, B. D., Schwann, G.
    Urban Studies, vol. 40, no. 5-6, pp. 1047-1064
    Contributions to Journals: Articles
  • Common features in UK real estate returns

    MacGregor, B. D., Schwann, G.
    Journal of Property Research, vol. 20, no. 1, pp. 23-48
    Contributions to Journals: Articles
  • Investor Rationality: Evidence from UK Property Capitalization Rates

    Hendershott, P. H., MacGregor, B. D.
    Working Papers and Discussion Papers: Working Papers
  • Lease terms, option pricing and the financial characteristics of property

    Adams, A. T., Booth, P. M., MacGregor, B. D.
    British Actuarial Journal, vol. 9, no. 3, pp. 619-635
    Contributions to Journals: Articles
  • Migration, Gaelic-medium Education and Language

    MacGregor, B. D., Munro, G., Stockdale, A.
    Sabhal Mor Ostaig: National Centre for Migration Studies. 69 pages
    Books and Reports: Commissioned Reports
  • Modelling and accounting for sustainable development

    Bebbington, J., MacGregor, B. D.
    Royal Institution of Chartered Surveyors (RICS)
    Books and Reports: Commissioned Reports
  • Explaining Real Commercial Rents Using an Error Correction Model with Panel Data

    Hendershott, P. H., MacGregor, B. D., White, M.
    The Journal of Real Estate Finance and Economics, vol. 24, no. 1-2, pp. 59-87
    Contributions to Journals: Articles
  • Estimation of the Rental Adjustment Process

    Hendershott, P. H., MacGregor, B. D., Tse, R.
    Real Estate Economics, vol. 30, no. 2, pp. 165-184
    Contributions to Journals: Articles
  • The duration of UK commercial property and equities

    Hamelink, F., MacGregor, B. D., Nanthakumanran, N., Orr, A.
    Journal of Property Research, vol. 19, no. 1, pp. 61-80
    Contributions to Journals: Articles
  • Price discovery in the Hong Kong real estate market

    Chau, K. W., MacGregor, B. D., Schwann, G.
    Journal of Property Research, vol. 18, no. 3, pp. 187-216
    Contributions to Journals: Articles
  • Forecasting techniques for urban and regional planning: the living environment

    Field, B., MacGregor, B. D.
    Nelson Thornes Ltd, Cheltenham, United Kingdom. 238 pages
    Books and Reports: Books
  • Property investment: Principles and practice of portfolio management

    Hoesli, M. E. R., MacGregor, B. D.
    Pearson Education, Edinburgh, United Kingdom. 304 pages
    Books and Reports: Books
  • Homogeneous commercial property market groupings and portfolio construction in the United Kingdom

    Hamelink, F., Hoesli, M., Lizieri, C., MacGregor, B. D.
    Environment and Planning A, vol. 32, pp. 323-344
    Contributions to Journals: Articles
  • Defining housing submarkets

    Bourassa, S. C., Hamelink, F., Hoesli, M., MacGregor, B. D.
    Journal of Housing Economics, vol. 8, pp. 160-183
    Contributions to Journals: Articles
  • Housing vacancy and rental adjustment: Evidence from Hong Kong

    Tse, R. Y. C., MacGregor, B. D.
    Urban Studies, vol. 36, pp. 1769-1782
    Contributions to Journals: Articles
  • Property investment appraisal

    MacGregor, B. D.
    British Actuarial Journal, vol. 5, no. 5, pp. 955-982
    Contributions to Journals: Articles
  • Real estate in mixed-asset portfolios: a review, part 2

    MacGregor, B. D., Hoesli, M. E. R.
    Quaderni di Diritto ed Economia del Territorio , vol. 2, no. 2, pp. 31-45
    Contributions to Journals: Articles
  • Real estate in mixed-asset portfolios: a review, part 1

    MacGregor, B. D., Hoesli, M. E. R.
    Quaderni di Diritto ed Economia del Territorio , vol. 2, no. 2, pp. 31-45
    Contributions to Journals: Articles
  • Real estate price and total return indices: an overview of methods

    MacGregor, B. D., Hoesli, M. E. R.
    Quaderni di Diritto ed Economia del Territorio , vol. 2, no. 1, pp. 2-24
    Contributions to Journals: Articles
  • The economics of commercial property markets

    Ball, M., Lizieri, C., MacGregor, B. D.
    Routledge, London, United Kingdom. 416 pages
    Books and Reports: Books
  • Optimal Diversification within Mixed-Asset Portfolios using a Conditional Heteroskedasticity Approach: Evidence from the U.S. and the U.K.

    Giliberto, M., Hamelink, F., Hoesli, M. E. R., MacGregor, B. D.
    Journal of Real Estate Portfolio Management, vol. 5, no. 1, pp. 31-45
    Contributions to Journals: Articles
  • The spatial dimensions of the investment performance of UK commercial property

    Hoesli, M., Lizieri, C., MacGregor, B.
    Urban Studies, vol. 34, no. 9, pp. 1475-1494
    Contributions to Journals: Articles
  • Inflation hedging versus inflation protection in the US and the UK

    Hamelink, F., Hoesli, M. E. R., MacGregor, B. D.
    Real Estate Finance, vol. 14, no. 2, pp. 63-73
    Contributions to Journals: Articles
  • The short term inflation hedging characteristics of UK real estate

    MacGregor, B. D., Hoesli, M. E. R., Nanthakumaran, N.
    The Journal of Real Estate Finance and Economics, vol. 15, no. 1, pp. 27-57
    Contributions to Journals: Articles
  • An analysis of valuation variation in the UK commercial property market: Hager and Lord revisited

    MacGregor, B. D., Adair, A., Hutchison, N. E., McGreal, S., Nanthakumaran, N.
    Journal of Property Valuation and Investment, vol. 14, no. 5, pp. 34-47
    Contributions to Journals: Articles
  • Price formation, mispricing and investment analysis in the property market: A response to “A note on ‘The initial yield revealed: explicit valuations and the future of property investment’

    MacGregor, B. D., Crosby, N., Baum, A.
    Journal of Property Valuation and Investment, vol. 14, no. 1, pp. 36-49
    Contributions to Journals: Articles
  • The long term inflation hedging characteristics of property

    MacGregor, B. D., Hoesli, M. E. R., Nanthakumanran, N., Matysiak, G.
    Journal of Property Finance, vol. 7, no. 1, pp. 50-61
    Contributions to Journals: Articles
  • Master or servant?: the changing role of the development plan in the British planning system

    MacGregor, B. D., Ross, A.
    Town Planning Review, vol. 66, no. 1, pp. 41-59
    Contributions to Journals: Articles
  • Real estate portfolio diversification by property type and geographical region

    MacGregor, B. D., Hoesli, M. E. R., Eichholtz, P.
    Journal of Property Finance, vol. 39-60, no. 22, pp. 39-60
    Contributions to Journals: Articles
  • Land use change on Scottish Highland Estates, Journal of Rural Studies

    MacGregor, B. D., Stockdale, A.
    Journal of Rural Studies, vol. 10, no. 3, pp. 301-9
    Contributions to Journals: Articles
  • Understanding the property cycle

    MacGregor, B. D., Key, T., Zarkesh, F., Nanthakumaran, N.
    property review, vol. 4, no. 2, pp. 61-3
    Contributions to Journals: Articles
  • The allocation to property in the multi-asset portfolio: the evidence and theory reconsidered

    MacGregor, B. D., Nanthakumaran, N.
    Journal of Property Research, vol. 9, no. 1, pp. 5-32
    Contributions to Journals: Articles
  • The initial yield revealed: explicit valuations and the future of property investment

    MacGregor, B. D., Baum, A.
    Journal of Property Valuation and Investment, vol. 10, no. 4, pp. 709-726
    Contributions to Journals: Articles
  • Risk and return: constructing a property portfolio, Journal of Valuation

    MacGregor, B. D.
    Journal of Property Valuation and Investment, vol. 8, no. 3, pp. 233-242
    Contributions to Journals: Articles
  • Owner motivation and land use on landed estates in the north-west Highlands of Scotland

    MacGregor, B. D.
    Journal of Rural Studies, vol. 4, no. 4, pp. 389-404
    Contributions to Journals: Articles
  • The availability of land for inner city development: a case study of inner Manchester

    MacGregor, B. D., Baum, A., Adams, C. D.
    Urban Studies, vol. 25, pp. 62-76
    Contributions to Journals: Articles
  • Rural housing in Scotland: Recent Research and Policy

    MacGregor, B. D., Robertson, D., Shucksmith, M.
    Aberdeen University Press, Aberdeen, United Kingdom. 201 pages
    Books and Reports: Books
  • Employment creation on North-West Highland estates

    MacGregor, B. D.
    Scottish Geographical Magazine, vol. 103, no. 1, pp. 47-49
    Contributions to Journals: Articles
  • Inner city land vacancy: the influence of the compensation code

    MacGregor, B. D., Adams, C. D., Baum, A.
    Journal of Planning and Environment Law, pp. 253-270
    Contributions to Journals: Articles
  • 'The Good District' - Newbury as a seedbed for success?

    MacGregor, B. D., Langridge, R.
    Planning Outlook, vol. 29, no. 1, pp. 19-22
    Contributions to Journals: Articles
  • Crofting demography and land use: a case study of North-West Sutherland

    MacGregor, B. D.
    Scottish Geographical Magazine, vol. 102, no. 1, pp. 41-56
    Contributions to Journals: Articles
  • The development of high-technology industry in Newbury District

    MacGregor, B. D., Langridge, R., Adley, J., Chapman, B.
    Regional Studies, vol. 20, no. 5, pp. 433-448
    Contributions to Journals: Articles
  • Land development and employment creation on landed estates in the Northern Highlands

    MacGregor, B. D.
    Journal of Environmental Planning and Management, vol. 28, no. 2, pp. 98-104
    Contributions to Journals: Articles
  • The influence of valuation practices upon the price of vacant inner city land

    Adams, C. D., Baum, A., MacGregor, B. D.
    Journal of Property Research, vol. 2, no. 3, pp. 157-173
    Contributions to Journals: Articles

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