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Professor Peter Wyatt

Professor of Real Estate Appraisal

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Specialisms

  • Real estate valuation and appraisal, 
  • Land management and administration, 
  • Geographical information systems

Location

HBS 215, Whiteknights Campus

Pete Wyatt is a Chartered Valuation Surveyor who has conducted extensive teaching, consultancy and research in land management and valuation. He has developed and delivered national and international university programmes at all levels, has published widely in leading real estate journals and has published two text books.

Professor Wyatt has been involved with and lead national, European and international real estate research projects. Recent work has investigated the way in which key attributes of the domestic and non-domestic building stock affect value; in particular energy consumption, environmental labelling and public transport accessibility. Ongoing work with UK Government is investigating the theory and practice of development viability appraisal in planning policy, focusing on the issue of development value and planning gain.

Qualifications

  • BSc (Hons) Estate Management
  • PhD

Current and recent PhD students

Joseph Ayitio: Beyond hybrid land governance: monetarised customary land transactions and the dilemmas of land value capture in Ghana. First supervisor

Tina Beale: What influences tax compliance? An investigation of property tax administration and tax payer behaviour in a small island developing state. First supervisor

Reference: Hughes, C. , Sayce, S. , Shepherd, E. and Wyatt, P. (2020) Implementing a land value tax: considerations on moving from theory to practice. Land Use Policy, 94. 104494. ISSN 0264-8377 doi: https://doi.org/10.1016/j.landusepol.2020.104494
Reference: Crosby, N. , Devaney, S. and Wyatt, P. (2020) Performance metrics and required returns for UK real estate development schemes. Journal of Property Research, 37 (2). pp. 171-193. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2020.1720269
Reference: Crosby, N. , Devaney, S. and Wyatt, P. , (2019) Performance metrics, required returns and achieved returns for UK real estate development. Project Report. Royal Institution of Chartered Surveyors
Reference: Wyatt, P. (2019) From a property tax to a land tax – who wins, who loses? Land Use Policy, 88. 104172. ISSN 0264-8377 doi: https://doi.org/10.1016/j.landusepol.2019.104172
Reference: Crosby, N. , Devaney, S. and Wyatt, P. , (2018) Residual land values: measuring performance and investigating viability. IPF Research Programme Major Report. Report. Investment Property Forum, London. pp56.
Reference: Crosby, N. and Wyatt, P. (2019) What is a ‘competitive return’ to a landowner? Parkhurst Road and the new UK planning policy environment. Journal of Property Research, 36 (4). pp. 367-386. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2019.1690028
Reference: Hughes, C. , McCluskey, W., Sayce, S. , Shepherd, E. , Wyatt, P. and Shepherd, E., (2018) Investigation of potential land value tax policy - options for Scotland. Report. Scottish Land Commission pp121.
Reference: Wyatt, P. , (2017) Valuing land tenure rights. Technical Report. Food and Agriculture Organization of the United Nations, Rome, Italy.
Reference: Wyatt, P. (2000) How useful are valuations to business occupiers? In: European Real Estate Society Annual Conference, June, Bordeaux.
Reference: McAllister, P. , Shepherd, E. and Wyatt, P. (2018) Policy shifts, developer contributions and land value capture in London 2005–2017. Land Use Policy, 78. pp. 316-326. ISSN 0264-8377 doi: https://doi.org/10.1016/j.landusepol.2018.06.047
Reference: Crosby, N. , Devaney, S. and Wyatt, P. (2018) The implied internal rate of return in conventional residual valuations of development sites. Journal of Property Research, 35 (3). pp. 234-251. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2018.1457070
Reference: Wyatt, P. (2000) An investigation of the nature of the valuation service offered to business occupiers. In: Cutting Edge, September, London.
Reference: Fuerst, F. , McAllister, P. , Nanda, A. and Wyatt, P. , (2013) An investigation of the effect of EPC ratings on house prices. Project Report. HM Government pp41.
Reference: Crosby, N. and Wyatt, P. , (2015) Financial viability appraisal in planning decisions: theory and practice. Project Report. RICS Research Trust, London.
Reference: Wyatt, P. , McAllister, P. , Cousins, L., Pugh, H. and McAllister, R., (2014) Section 106 planning obligations in England, 2011-12. Project Report. HM Government pp84.
Reference: Wyatt, P. , Street, E. , Cousins, L., Dunmore, K., McAllister, R., Carr, J., Pugh, H., Coldwell, B., Welch, L., Ballantyne Way, S. and Humphries, P., (2017) The value, impact and delivery of the Community Infrastructure Levy. Project Report. HM Government pp79. ISBN 9781409849902
Reference: Wyatt, P. (2016) Experiences of running negotiable and non-negotiable developer contributions side-by-side. In: Annual Conference of the International Academic Association for Planning Law and Property Rights, 17-19 February 2016, Berne, Switzerland.
Reference: Crosby, N. , Devaney, S. and Wyatt, P. , (2017) The implied internal rate of return in conventional residual valuations of development sites. Working Papers in Real Estate & Planning. 03/17. Working Paper. University of Reading, Reading. pp14.
Reference: Wyatt, P. (2018) Can land value uplift deliver affordable housing? Experiences from England. Journal of European Real Estate Research, 11 (1). pp. 87-101. ISSN 1753-9269 doi: https://doi.org/10.1108/JERER-02-2017-0009
Reference: McAllister, P. , Street, E. and Wyatt, P. (2016) An empirical investigation of stalled residential sites in England. Planning Practice and Research, 31 (2). pp. 132-153. ISSN 1360-0583 doi: https://doi.org/10.1080/02697459.2015.1115658
Reference: Wyatt, P. (2017) Experiences of running negotiable and non-negotiable developer contributions side-by-side. Planning Practice & Research, 32 (2). pp. 125-170. ISSN 1360-0583 doi: https://doi.org/10.1080/02697459.2016.1222148
Reference: Crosby, N. and Wyatt, P. (2016) Financial viability appraisals for site-specific planning decisions in England. Environment and Planning C: Government and Policy, 34 (8). pp. 1716-1733. ISSN 1472-3425 doi: https://doi.org/10.1177/0263774X16636118
Reference: Fuerst, F. , McAllister, P. , Nanda, A. and Wyatt, P. (2016) Energy performance ratings and house prices in Wales: an empirical study. Energy Policy, 92. pp. 20-33. ISSN 0301-4215 doi: https://doi.org/10.1016/j.enpol.2016.01.024
Reference: McAllister, P. , Street, E. and Wyatt, P. (2016) Governing calculative practices: An investigation of development viability modelling in the English planning system. Urban Studies, 53 (11). pp. 2363-2379. ISSN 1360-063X doi: https://doi.org/10.1177/0042098015589722
Reference: Fuerst, F. , McAllister, P. , Nanda, A. and Wyatt, P. , (2015) Energy performance ratings and house prices in Wales: an empirical study. Working Papers in Real Estate & Planning. 05/15. Working Paper. University of Reading, Reading. pp40.
Reference: Crosby, N. and Wyatt, P. , (2015) Financial viability appraisals for site-specific planning decisions in England. Working Papers in Real Estate & Planning. 03/15. Working Paper. University of Reading, Reading. pp30.
Reference: Fuerst, F. , McAllister, P. , Nanda, A. and Wyatt, P. (2015) Does energy efficiency matter to home-buyers? An investigation of EPC ratings and transaction prices in England. Energy Economics, 48. pp. 145-156. ISSN 0140-9883 doi: https://doi.org/10.1016/j.eneco.2014.12.012
Reference: Wyatt, P. (2013) Property valuation. 2nd edition. Wiley-Blackwell, pp496. ISBN 9781119968658
Reference: Crosby, N. , McAllister, P. and Wyatt, P. (2013) Fit for planning? An evaluation of the application of development viability appraisal models in the UK planning system. Environment and Planning B: Planning and Design, 40 (1). pp. 3-22. ISSN 1472-3417 doi: https://doi.org/10.1068/b37181
Reference: McAllister, P. , Street, E. and Wyatt, P. , (2013) Shovel ready? An empirical investigation of stalled residential sites. Working Papers in Real Estate & Planning. 11/13. Working Paper. University of Reading, Reading. pp27.
Reference: McAllister, P. , Street, E. and Wyatt, P. , (2013) Inside the black box: unravelling the development viability appraisal process. Working Papers in Real Estate & Planning. 12/13. Working Paper. University of Reading, Reading. pp35.
Reference: Fuerst, F. , Van de Wetering, J. and Wyatt, P. (2013) Is intrinsic energy efficiency reflected in the pricing of office leases? Building Research & Information, 41 (4). pp. 373-383. ISSN 0961-3218 doi: https://doi.org/10.1080/09613218.2013.780229
Reference: Wyatt, P. (2013) A dwelling-level investigation into the physical and socio-economic drivers of domestic energy consumption in England. Energy Policy, 60. pp. 540-549. ISSN 0301-4215 doi: https://doi.org/10.1016/j.enpol.2013.05.037
Reference: McAllister, P. and Wyatt, P. , (2013) A good enough approach to setting planning obligations. Working Papers in Real Estate & Planning. 08/13. Working Paper. University of Reading, Reading. pp25.
Reference: Wyatt, P. and McAllister, P. , (2013) Area-wide development viability appraisals: the concept of threshold land value within a UK planning context. Working Papers in Real Estate & Planning. 09/13. Working Paper. University of Reading, Reading. pp21.
Reference: Fuerst, F., McAllister, P., Nanda, A. and Wyatt, P. , (2013) Is Energy Efficiency Priced in the Housing Market? Some Evidence from the United Kingdom. Working Papers in Real Estate & Planning. 01/13. Working Paper. University of Reading, Reading. pp35.
Reference: McAllister, P. , Coleman, C. and Wyatt, P. (2013) Fit for policy? Some evidence on the application of development viability models in the UK planning system. Town Planning Review, 84 (4). pp. 517-543. ISSN 1478-341X doi: https://doi.org/10.3828/tpr.2013.26
Reference: Coleman, C. , Crosby, N. , McAllister, P. and Wyatt, P. (2013) Development appraisal in practice: some evidence from the planning system. Journal of Property Research, 30 (2). pp. 144-165. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2012.750620
Reference: Ralphs, M. and Wyatt, P. (2003) GIS in land and property management. Spon, London, pp390. ISBN 9780415240659
Reference: Byrne, P. , McAllister, P. and Wyatt, P. , (2010) Reconciling model and information uncertainty in development appraisal. Working Papers in Real Estate & Planning. 03/10. Working Paper. University of Reading, Reading. pp26.
Reference: Wyatt, P. , (2010) The influence of office location on commuting behaviour. Working Papers in Real Estate & Planning. 07/10. Working Paper. University of Reading, Reading. pp18.
Reference: Byrne, P. , McAllister, P. and Wyatt, P. , (2010) Precisely wrong or roughly right? An evaluation of development viability. Working Papers in Real Estate & Planning. 08/10. Working Paper. University of Reading, Reading. pp30.
Reference: Crosby, N. , McAllister, P. and Wyatt, P. , (2010) Fit for planning? An evaluation of the application of development viability appraisal models in the UK planning system. Working Papers in Real Estate & Planning. 10/10. Working Paper. University of Reading, Reading. pp39.
Reference: Wyatt, P. , (2011) Business parks and town centre workplaces in England: a comparative analysis of commuting-related energy consumption. Working Papers in Real Estate & Planning. 05/11. Working Paper. University of Reading, Reading. pp32.
Reference: Van de Wetering, J. and Wyatt, P. (2011) Office sustainability: occupier perceptions and implementation of policy. Journal of European Real Estate Research, 4 (1). pp. 29-47. ISSN 1753-9269 doi: https://doi.org/10.1108/17539261111129452
Reference: Bruhns, H. and Wyatt, P. (2011) A data framework for measuring the energy consumption of the non-domestic building stock. Building Research and Information, 39 (3). pp. 211-226. ISSN 1466-4321 doi: https://doi.org/10.1080/09613218.2011.559704
Reference: Wyatt, P. (2011) Land administration in a micro-state: the role of land use planning. Survey Review, 43 (323). pp. 505-522. ISSN 1752-2706
Reference: Byrne, P. , McAllister, P. and Wyatt, P. (2011) Precisely wrong or roughly right? An evaluation of development viability appraisal modelling. Journal of Financial Management of Property and Construction, 16 (3). pp. 249-271. ISSN 1366-4387 doi: https://doi.org/10.1108/13664381111179224
Reference: Ball, M. , Blanchette, R., Nanda, A. , Wyatt, P. and Yeh, J., (2011) Housing markets and independence in old age: expanding the opportunities. Report. University of Reading, Reading. pp48.
Reference: Fuerst, F. , McAllister, P. , Van de Wetering, J. and Wyatt, P. (2011) Measuring the financial performance of green buildings in the UK commercial property market: addressing the data issues. Journal of Financial Management of Property and Construction, 16 (2). pp. 163-185. ISSN 1366-4387 doi: https://doi.org/10.1108/13664381111153132 <https://doi.org/10.1108/13664381111153132 >
Reference: Wyatt, P. (2007) Property valuation. Blackwell, Oxford, pp411. ISBN 9781405130455
Reference: Wyatt, P. and Van de Wetering, J. (2008) Measuring the environmental performance of office space: a Bristol case study. In: ERES Conference, 18-21 June 2008, Krakow, Poland.
Reference: Wyatt, P. (2009) Replacement cost and market value. Journal of Property Investment and Finance, 27 (6). pp. 593-602. ISSN 1463-578X doi: https://doi.org/10.1108/14635780910993186 <https://doi.org/10.1108/14635780910993186 >
Reference: Wyatt, P. and Katyoka, M. (2008) An investigation of the nature of vacant commercial and industrial property. Planning Practice and Research, 23 (1). pp. 125-145. ISSN 1360-0583 doi: https://doi.org/10.1080/02697450802076704 <https://doi.org/10.1080/02697450802076704 >
Reference: Wyatt, P. (2008) Empty dwellings: the use of council-tax records in identifying and monitoring vacant private housing in England. Environment and Planning A, 40 (5). pp. 1171-1184. ISSN 0308-518X doi: https://doi.org/10.1068/a39176
Reference: Van de Wetering, J. and Wyatt, P. J. (2010) Measuring the carbon footprint of existing office space. Journal of Property Research, 27 (4). pp. 309-336. ISSN 0959-9916 doi: https://doi.org/10.1080/09599916.2010.517851 <https://doi.org/10.1080/09599916.2010.517851 >
Reference: McAllister, P. , Fuerst, F. , Wyatt, P. and Van de Wetering, J. , (2010) Establishing a data framework for measuring the price effects of eco-certification. FiBRE: findings in built and rural environments. Report. RICS, London. pp17. ISBN 9781842196243
Reference: Wyatt, P. , (2009) Commuting, CO2 and the location of offices. Working Papers in Real Estate & Planning. 06/09. Working Paper. University of Reading, Reading. pp49.

Joint principal investigator for ‘The impact of S106 planning obligations on growth’ ANS0203104 – Project 17892, 2012-13, Department of Communities and Local Government, Consortium project led by the University of Reading and Three Dragons Ltd (£77,684)

Co-investigator for ‘Hedonic Pricing Study to Determine whether Energy Efficiency Ratings and Council Tax Differentials Impact on Prices in the Domestic Buildings Sector’, 2012, Department of Energy & Climate Change (£34,308)

Joint principal investigator for ‘Development Viability Appraisal: Theory, Application and Evaluation’, 2011-12, Economic and Social Research Council, Ref ES/1001123/1 (£79,469)

Co-investigator on ‘Non-Domestic Energy Energy Efficiency Database’ project, 2009, funded by the UK Department for Energy and Climate Change (£250,000)

Joint project manager and valuation expert for ‘Land titling and land registration programme’ St Vincent & the Grenadines, 2008-9, funded by the European Union, (360,000 euros)

Project manager and principal investigator for ‘Sustainability of office occupation’ King Sturge Property Consultants and the University of the West of England, 2007-9 (£60,000)

Valuation expert for ‘Development of an electronic service delivery framework for the Geodetic and Cartographic Office of the Government of the Slovak Republic’ European Union, 2007 (250,000 euros)

Project manager and principal investigator for ‘Development of hereditament-level vacancy statistics’ Office of the Deputy Prime Minister, 2005 (£39,620)

Co-investigator for ‘Identifying vacant buildings – pilot study for a domestic vacancy information system’ Office of the Deputy Prime Minister, 2005-6 (£85,000)

Co-investigator (£23,000) for ‘Research Consultancy on Land Use’, Office for the Deputy Prime Minister, 2003/04, total contract value £125,725

Project manager and principal investigator for ‘Undertaking a pilot study to evaluate the feasibility of monitoring previously developed land in Wales’ Welsh Assembly Government, 2003-4 (£41,800)

Project manager and principal investigator for ‘Developing alternative data sources for a national assessment of previously-developed land’ Office for the Deputy Prime Minister, 2003 (£44,000)

Project manager and principal investigator for ‘A pilot study to obtain improved information on land and building vacancies’ Office for the Deputy Prime Minister, 2002-5 (£97,000)

Land management expert for ‘Review of Land Use Planning Indicators’ Welsh Assembly Government, 2002 (£60,000)