| Abstract: | Summary In a previous paper (Land Development Studies, 5, 145–177), the problems of measuring property markets were reviewed. Some of the problems discussed included the quality and quantity of data caused by the small number of transactions as a proportion of total stock of property, secrecy in the property market, and the individual nature of each property. These result in a reliance on subjective analysis of transaction data (to form value estimates) rather than the use of actual transactions to construct rental value indices. This paper sets out the collection and analysis of data and the subsequent construction of shop rental value indices for the local property market of Nottingham which is situated in the East Midlands region of the UK. The attempt to construct a long‐term data set (from 1910–86) highlights the problems of data availability and quality of information. It also highlights the problems associated with national and regional location indices which use one rent point within a centre to represent value movements across part or all of that centre. The Nottingham indices indicate a wide divergence of annual growth rates from different rent points within the centre and suggest that single point measurements should therefore be treated with caution. |
