Chyi Lin Lee

Discipline Director of Construction Management and Property
Associate Professor

Associate Professor Chyi Lin Lee is currently the discipline director of construction management and property at the University of New South Wales. His research on housing and property investment has been presented at a variety of international conferences and been published widely. Recent works on housing and property investment have covered issues such as housing economics, real estate futures contracts, property finance and housing submarkets and have been published in leading property journals in the US and UK such as the Journal of Real Estate Finance & Economics, Housing Studies, Habitat International, Accounting and Finance, International Journal of Strategic Property Management, and Journal of Property Investment and Finance. He also successfully completed (or is currently working on) numerous externally funded research projects from the property industry in Australia such as the Australian Housing and Urban Research Institute (AHURI), Transport for NSW, Property Investors Alliance, and overseas such as European Public Real Estate Association (EPRA) and European Association for Investors in Non-Listed Real Estate Vehicle (INREV). He also received numerous awards to recognise his contributions to property research such as the Australian Property Institute Achiever (Early Career Researcher) Award in 2015.

Journal articles
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Wang J; Lee CL; Shirowzhan S, 2021, 'Macro-impacts of air quality on property values in China—a meta-regression analysis of the literature', Buildings, vol. 11, pp. 1 - 25, http://dx.doi.org/10.3390/buildings11020048
2021
Ong SE; Lee CL, 2021, 'Editorial for special issue on infrastructure and real estate', Journal of Property Investment and Finance, vol. 39, pp. 181 - 182, http://dx.doi.org/10.1108/JPIF-04-2021-174
2021
Lin Y-C; Lee CL; Newell G, 2021, 'Varying interest rate sensitivity of different property sectors: cross-country evidence from REITs', Journal of Property Investment and Finance, http://dx.doi.org/10.1108/JPIF-09-2020-0099
2021
Bangura M; Lee CL, 2021, 'The determinants of homeownership affordability in Greater Sydney: evidence from a submarket analysis', Housing Studies, pp. 1 - 27, http://dx.doi.org/10.1080/02673037.2021.1879995
2021
Liang J; Koo KM; Lee CL, 2021, 'Transportation infrastructure improvement and real estate value: impact of level crossing removal project on housing prices', Transportation, http://dx.doi.org/10.1007/s11116-020-10157-1
2021
Lee CL; Locke M, 2020, 'The effectiveness of passive land value capture mechanisms in funding infrastructure', Journal of Property Investment and Finance, vol. 39, pp. 283 - 293, http://dx.doi.org/10.1108/JPIF-07-2020-0084
2020
Lee CL, 2020, 'Guest editorial', International Journal of Housing Markets and Analysis, vol. 13, pp. 373, http://dx.doi.org/10.1108/IJHMA-06-2020-127
2020
Akimov A; Lee CL; Stevenson S, 2020, 'Interest rate sensitivity in european public real estate markets', Journal of Real Estate Portfolio Management, vol. 25, pp. 138 - 150, http://dx.doi.org/10.1080/10835547.2020.1803694
2020
Bangura M; Lee CL, 2020, 'House price diffusion of housing submarkets in Greater Sydney', Housing Studies, vol. 35, pp. 1110 - 1141, http://dx.doi.org/10.1080/02673037.2019.1648772
2020
Bangura M; Lee CL, 2020, 'Housing price bubbles in Greater Sydney: evidence from a submarket analysis', Housing Studies, http://dx.doi.org/10.1080/02673037.2020.1803802
2020
Bulut M; Wilkinson S; Khan A; Jin XH; Lee CL, 2020, 'Perceived benefits of retrofitted residential secondary glazing: an exploratory Australian study', International Journal of Building Pathology and Adaptation, http://dx.doi.org/10.1108/IJBPA-09-2020-0083
2020
Guo T; Zha G; Lee CL; Tang Q, 2020, 'Does corporate green ranking reflect carbon-mitigation performance?', Journal of Cleaner Production, vol. 277, pp. 123601 - 123601, http://dx.doi.org/10.1016/j.jclepro.2020.123601
2020
Lin YC; Lee CL; Newell G, 2020, 'The added-value role of industrial and logistics REITs in the Pacific Rim region', Journal of Property Investment and Finance, vol. 38, pp. 597 - 616, http://dx.doi.org/10.1108/JPIF-09-2019-0129
2020
Low S; Ullah F; Shirowzhan S; Sepasgozar S; Lee CL, 2020, 'Smart Digital Marketing Capabilities for Sustainable Property Development: A Case of Malaysia', Sustainability, vol. 12, http://dx.doi.org/10.3390/su12135402
2020
Al-Masum MA; Lee CL, 2019, 'Modelling housing prices and market fundamentals: evidence from the Sydney housing market', International Journal of Housing Markets and Analysis, vol. 12, pp. 746 - 762, http://dx.doi.org/10.1108/IJHMA-10-2018-0082
2019
Lin YC; Lee CL; Newell G, 2019, 'The significance of residential REITs in Japan as an institutionalised property sector', Journal of Property Investment & Finance, vol. 37, pp. 363 - 379, http://dx.doi.org/10.1108/jpif-03-2019-0036
2019
Lin YC; Cho H; Lee CL, 2019, 'The value-added role of sector-specific REITs in Australia', Pacific Rim Property Research Journal, vol. 25, pp. 49 - 72, http://dx.doi.org/10.1080/14445921.2019.1610593
2019
Lee CL, 2019, 'Guest editorial', International Journal of Housing Markets and Analysis, vol. 12, pp. 825, http://dx.doi.org/10.1108/IJHMA-10-2019-114
2019
Bi L; Fan Y; Gao M; Lee CL; Yin G, 2019, 'Spatial mismatch, enclave effects and employment outcomes for rural migrant workers: Empirical evidence from Yunnan Province, China', Habitat International, vol. 86, pp. 48 - 60, http://dx.doi.org/10.1016/j.habitatint.2019.02.008
2019
Zhang J; Lee CL; Chan N, 2019, 'The asymmetric effect of institutional quality on chinese outward real estate investment', International Journal of Strategic Property Management, vol. 23, pp. 435 - 449, http://dx.doi.org/10.3846/ijspm.2019.10429
2019
Bangura M; Lee CL, 2019, 'The differential geography of housing affordability in Sydney: a disaggregated approach', Australian Geographer, vol. 50, pp. 295 - 313, http://dx.doi.org/10.1080/00049182.2018.1559971
2019
Lee CL; Stevenson S; Lee ML, 2018, 'Low-frequency volatility of real estate securities and macroeconomic risk', Accounting and Finance, vol. 58, pp. 311 - 342, http://dx.doi.org/10.1111/acfi.12288
2018
Lee MT; Lee CL; Lee ML; Liao CY, 2017, 'Price linkages between Australian housing and stock markets: Wealth effect, credit effect or capital switching?', International Journal of Housing Markets and Analysis, vol. 10, pp. 305 - 323, http://dx.doi.org/10.1108/IJHMA-05-2016-0037
2017
Lee CL, 2017, 'An examination of the risk-return relation in the Australian housing market', International Journal of Housing Markets and Analysis, vol. 10, pp. 431 - 449, http://dx.doi.org/10.1108/IJHMA-07-2016-0052
2017
Lee MT; Kuo SH; Lee ML; Lee CL, 2016, 'Price discovery and volatility transmission in Australian REIT cash and futures markets', International Journal of Strategic Property Management, vol. 20, pp. 113 - 129, http://dx.doi.org/10.3846/1648715X.2015.1106989
2016
Rogers D; Lee CL; Yan D, 2015, 'The Politics of Foreign Investment in Australian Housing: Chinese Investors, Translocal Sales Agents and Local Resistance', Housing Studies, vol. 30, pp. 730 - 748, http://dx.doi.org/10.1080/02673037.2015.1006185
2015
Newell G; Lee CL; Kupke V, 2015, 'The opportunity of unlisted wholesale residential property funds in enhancing affordable housing supply', AHURI Final Report, pp. 1 - 94
2015
Lee CL; Mallik G, 2015, 'The impact of student characteristics on academic achievement: Findings from an online undergraduate property program', Pacific Rim Property Research Journal, vol. 21, pp. 3 - 14, http://dx.doi.org/10.1080/14445921.2015.1026128
2015
Lee CL; Reed RG, 2014, 'The Relationship between Housing Market Intervention for First-Time Buyers and House Price Volatility', Housing Studies, vol. 29, pp. 1073 - 1095, http://dx.doi.org/10.1080/02673037.2014.927420
2014
Lee CL; Lee ML, 2014, 'Do European real estate stocks hedge inflation? Evidence from developed and emerging markets', International Journal of Strategic Property Management, vol. 18, pp. 178 - 197, http://dx.doi.org/10.3846/1648715X.2014.925521
2014
Lee CL, 2014, 'The inflation-hedging characteristics of Malaysian residential property', International Journal of Housing Markets and Analysis, vol. 7, pp. 61 - 75, http://dx.doi.org/10.1108/IJHMA-10-2012-0053
2014
Lee MT; Lee ML; Chiu BH; Lee CL, 2014, 'Do lunar phases affect US REIT returns?', Investment Analysts Journal, vol. 79, pp. 67 - 78, http://dx.doi.org/10.1080/10293523.2014.11082570
2014
Lee CL; Stevenson S; Lee ML, 2014, 'Futures Trading, Spot Price Volatility and Market Efficiency: Evidence from European Real Estate Securities Futures', Journal of Real Estate Finance and Economics, vol. 48, pp. 299 - 322, http://dx.doi.org/10.1007/s11146-012-9399-3
2014
Lee CL, 2013, 'Volatility Decomposition of Australian Housing Prices', Journal of Housing Research
2013
Newell G; Lee CL, 2012, 'Influence of the corporate social responsibility factors and financial factors on REIT performance in Australia', Journal of Property Investment and Finance, vol. 30, pp. 389 - 403, http://dx.doi.org/10.1108/14635781211241789
2012
Lee CL; Lee ML, 2012, 'Hedging effectiveness of REIT futures', Journal of Property Investment and Finance, vol. 30, pp. 257 - 281, http://dx.doi.org/10.1108/14635781211223824
2012
Newell G; Lee CL, 2011, 'Assessing the consistency of valuation-smoothing and the impact on property in Australian mixed-asset portfolios', Pacific Rim Property Research Journal, vol. 17, pp. 463 - 482, http://dx.doi.org/10.1080/14445921.2011.11104337
2011
Newell G; Lee CL, 2011, 'The impact of alternative assets on the role of direct property in australian mixed-asset portfolios', Pacific Rim Property Research Journal, vol. 17, pp. 531 - 559, http://dx.doi.org/10.1080/14445921.2011.11104341
2011
Jin XH; Lee CL; Zhang G, 2011, 'Critical uncertainty factors for efficient allocation of demand risk in privately financed public infrastructure projects in Australia', International Journal of Project Organisation and Management, vol. 3, pp. 243 - 257, http://dx.doi.org/10.1504/IJPOM.2011.042031
2011
Lee CL; Hwa TK, 2011, 'Linkages between Malaysian housing prices, property companies and stocks', Pacific Rim Property Research Journal, vol. 17, pp. 287 - 312, http://dx.doi.org/10.1080/14445921.2011.11104329
2011
Lee CL; Jin XH, 2011, 'Exploring australian housing supply', Pacific Rim Property Research Journal, vol. 17, pp. 634 - 651, http://dx.doi.org/10.1080/14445921.2011.11104346
2011
Lee CL, 2010, 'USE OF DERIVATIVES BY AUSTRALIAN PROPERTY FUNDS', PACIFIC RIM PROPERTY RESEARCH JOURNAL, vol. 16, pp. 151 - 170, http://dx.doi.org/10.1080/14445921.2010.11104299
2010
Lee CL, 2009, 'Downside beta and valuation-based property returns', Pacific Rim Property Research Journal, vol. 15, pp. 182 - 203, http://dx.doi.org/10.1080/14445921.2009.11104277
2009
Lee CL, 2009, 'Housing price volatility and its determinants', INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS, vol. 2, pp. 293 - 308, http://dx.doi.org/10.1108/17538270910977572
2009
Lee CL, 2009, 'Volatility transmission in Australian REIT futures', Journal of Real Estate Portfolio Management, vol. 15, pp. 221 - 238
2009
Lee CL; Hwa Ting K, 2009, 'The role of Malaysian securitised real estate in a mixed‐asset portfolio', Journal of Financial Management of Property and Construction, vol. 14, pp. 208 - 230, http://dx.doi.org/10.1108/13664380911000440
2009
Lee CL, 2008, 'Volatility Spillover in Australian Commercial Property', Pacific Rim Property Research Journal, vol. 14, pp. 434 - 477, http://dx.doi.org/10.1080/14445921.2008.11104267
2008
Lee CL; Reed R; Robinson J, 2008, 'An investigation on the risk perceptions of Australian property fund managers', Pacific Rim Property Research Journal, vol. 14, pp. 199 - 221, http://dx.doi.org/10.1080/14445921.2008.11104255
2008
Lee CL, 2008, 'Housing in Australia as a portfolio investment', INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS, vol. 1, pp. 352 - 361, http://dx.doi.org/10.1108/17538270810908641
2008
Lee CL; Robinson J; Reed R, 2008, 'Listed property trusts and downside systematic risk sensitivity', Journal of Property Investment and Finance, vol. 26, pp. 304 - 328, http://dx.doi.org/10.1108/14635780810886627
2008
Lee CL; Robinson J; Reed R, 2008, 'Downside beta and the cross-sectional determinants of listed property trust returns', Journal of Real Estate Portfolio Management, vol. 14, pp. 49 - 62
2008
Lee CL; Reed R; Robinson J, 2007, 'Momentum profits in Australian listed property trusts', Pacific Rim Property Research Journal, vol. 13, pp. 322 - 343, http://dx.doi.org/10.1080/14445921.2007.11104236
2007
Reports
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Lee CL; Stevenson S; Cho H, 2020, The impact of futures trading on the linkages between listed real estate and direct real estate: International evidence, European Public Real Estate Association, Brussel, Belgium, https://www.epra.com/research/academic-research
2020
Book Chapters
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Lee CL, 2018, 'Oceania', in The Routledge REITs Research Handbook, Routledge, pp. 257 - 278
2018
Books
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Newell G; Lee CL; Kupke V, 2015, The opportunity of residential property investment vehicles in enhancing affordable rental housing supply
2015
Conference Papers
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Lee CL; Newell G; Kupke V, 2015, 'Australian Institutional Investors and Residential Investment Vehicles', in Wu Y; Zheng S; Luo J; Wang W; Mo Z; Shan L (eds.), PROCEEDINGS OF THE 20TH INTERNATIONAL SYMPOSIUM ON ADVANCEMENT OF CONSTRUCTION MANAGEMENT AND REAL ESTATE, SPRINGER-VERLAG BERLIN, Hangzhou, PEOPLES R CHINA, pp. 709 - 720, presented at 20th International Symposium on Advancement of Construction Management and Real Estate, Hangzhou, PEOPLES R CHINA, 23 October 2015 - 25 October 2015, http://dx.doi.org/10.1007/978-981-10-0855-9_62
2015
Jin X; Lee CL; Zhang G; Yang RJ, 2011, 'Monitoring construction projects using information technologies', in Proceedings of the 16th International Symposium on Advancement of Construction Management and Real Estate, CRIOCM 2011, pp. 451 - 456
2011
Lee CL; Jin X, 2011, 'Exploring the volatility pattern of Australian housing supply', in Proceedings of the 16th International Symposium on Advancement of Construction Management and Real Estate, CRIOCM 2011, pp. 332 - 336
2011
Jin X-H; Lee CL, 2010, 'A Critical Analysis of Techniques for Risk Mitigation in the Construction Industry', in Wu D; Xu MZ; Zhang ZJ; Fang Y (eds.), PROCEEDINGS OF THE 1ST INTERNATIONAL CONFERENCE ON SUSTAINABLE CONSTRUCTION & RISK MANAGEMENT, VOLS I AND II, UNIVERSE ACADEMIC PRESS TORONTO, Chongqing Jiaotong Univ, Chongqing, PEOPLES R CHINA, pp. 250 - 254, presented at 1st International Conference on Sustainable Construction and Risk Management, Chongqing Jiaotong Univ, Chongqing, PEOPLES R CHINA, 12 June 2010 - 14 June 2010, http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000280237800043&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=891bb5ab6ba270e68a29b250adbe88d1
2010
Lee CL, 2009, 'Volatility Spillover in Australian Real Estate Investment Trust Futures', in Wang YW; Wang YQ; Shen Q (eds.), PROCEEDINGS OF 2009 INTERNATIONAL CONFERENCE ON CONSTRUCTION & REAL ESTATE MANAGEMENT, VOLS 1 AND 2, CHINA ARCHITECTURE & BUILDING PRESS, Beijing, PEOPLES R CHINA, pp. 892 - 897, presented at International Conference on Construction and Real Estate Management, Beijing, PEOPLES R CHINA, 05 November 2009 - 06 November 2009, http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000277467500204&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=891bb5ab6ba270e68a29b250adbe88d1
2009
Wu H; Lee CL; Chan N, 2009, 'The Significance of Second Tier City Housing Markets in China', in Wang YW; Wang YQ; Shen Q (eds.), PROCEEDINGS OF 2009 INTERNATIONAL CONFERENCE ON CONSTRUCTION & REAL ESTATE MANAGEMENT, VOLS 1 AND 2, CHINA ARCHITECTURE & BUILDING PRESS, Beijing, PEOPLES R CHINA, pp. 986 - +, presented at International Conference on Construction and Real Estate Management, Beijing, PEOPLES R CHINA, 05 November 2009 - 06 November 2009, http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000277467500226&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=891bb5ab6ba270e68a29b250adbe88d1
2009

He has received more than 10 awards to recognise his contributions to research and teaching and learning, including the Australian Property Institute Achiever (Early Career Researcher) Award in 2015.

He also successfully completed (or is currently working on) numerous externally funded research projects from the property industry in Australia such as the Australian Housing and Urban Research Institute (AHURI), Transport for NSW, Property Investors Alliance, and overseas such as European Public Real Estate Association (EPRA) and European Association for Investors in Non-Listed Real Estate Vehicle (INREV).

Housing price, housing economics, housing submarkets, real estate futures, real estate finance and investment, low carbon, sustainability

Lee CL; Liang J; Koo K, 2019, Rail works lift property prices, pointing to value capture’s potential to fund city infrastructure, The Conversation, https://theconversation.com/rail-works-lift-property-prices-pointing-to-value-captures-potential-to-fund-city-infrastructure-123757
2019
Lee CL; Piracha A; Fan Y, 2018, Another tale of two cities: access to jobs divides Sydney along the ‘latte line’, The Conversation, https://theconversation.com/another-tale-of-two-cities-access-to-jobs-divides-sydney-along-the-latte-line-96907
2018
Lee CL, 2017, How to tell when the housing market is slowing, The Conversation, https://theconversation.com/how-to-tell-when-the-housing-market-is-slowing-80072
2017