Expert Witness Study – a Retrospective Evaluation and Forecast of Darwin Residential Property Market
Oxford Economics Australia conducted a retrospective assessment of the Darwin residential property market, forecasting house and unit prices and rents, which was used as expert witness advice in court proceedings.
Project background
The client, a major Australian legal firm, engaged Oxford Economics Australia (OEA) to provide a retrospective assessment of the Darwin residential property market from 2017 to 2030. The client was grappling with a complex legal case involving a disputed development project. The specific problem required OEA to forecast house and unit prices and rents to 2030, using data only available up to February 2017. The report was to be written for use in court proceedings.
Approach and solution
Using data available only up to February 2017, the team forecasted house and unit prices and rents to 2030. The methodology involved using historical observations, trends, and forecasts for economic activity in Darwin and the Northern Territory. The team ensured that no information or events that subsequently became available influenced the projections, maintaining the integrity of the study. This rigorous approach resulted in a comprehensive and accurate report.
Conclusion
The team’s ability to deliver a high-quality report under strict conditions highlights their expertise and commitment to providing reliable economic analyses for use in court proceedings. The final report proved valuable in informing all parties to the dispute which was eventually settled.
Get in touch
Emily Dabbs
Head of Macroeconomics Consulting, Oxford Economics
+61 2 8458 4202
Emily Dabbs
Head of Macroeconomics Consulting, Oxford Economics
Sydney, Australia
Emily leads Oxford Economics Australia’s Macro Consulting team. She has over 10 years of economic analysis and consulting experience, focusing on macroeconomic forecast and analysis. Emily regularly provides strategy support and briefings, and presentations to clients and key stakeholders to support a broader understand of the economic environment and the impact on their business.
Geoffrey Snell
Principal Property Economist, Residential Property
+61 3 8679 7302
Geoffrey Snell
Principal Property Economist, Residential Property
Melbourne, Australia
Geof is a member of Oxford Economics Australia’s residential property team, analysing housing markets and demographic trends and forecasting capital city house prices and state dwelling commencements. He has a background in property analysis across sectors, including land studies, market commentaries, supply & demand, stakeholder consultation and exploring industrial market issues. Geof has a Bachelor degree in Business, with a specialisation in Property, from the Royal Melbourne Institute of Technology (RMIT). He was formerly on the Property Council of Australia (Victoria) Industrial Committee and has over fifteen years’ experience in the property industry.
Geof has gained experience working on a diverse range of property-related projects across Australia for a variety of public and private sector clients. He has worked on market assessments for major residential, industrial, commercial, tourism and retail developments and has also provided background property analysis for economic profiles and activity centre planning. Geof has particular expertise in undertaking economic impact studies, examining the effect of a development project on the economy in a specified area.