Includes bibliographical references (pages 249-255) and index.

Print version record.

Annotation The book draws together the economic literature relating to the supply of land for development. The standard view appears to be that the owners of land have no interest other than to allow their land to be used for the activity which would yield the highest income. But in reality this is not so and the book's aim is to demonstrate this, to set out the reasons and to show the economic effects of the fact that landowners have other motives. The book covers the supply of land for urban development and shows how land has characteristics which differentiate it from other factors of production which will also affect its supply for some uses, e.g. land is fixed in location and its price and value are inseparable from where it is. New light is cast on the market for land (by concentrating on the supply side), and on land use planning (by taking an economic viewpoint).

Economics, Real Estate and the Supply of Land; Contents; Preface; 1 Introduction: The Market for Land and Property; The supply of land; The demand for land; The development of a theory of the supply of land; 2 Land Values, Rents and Demand; Introduction; Ricardian rent theory; Neoclassical rent theory; Ricardian theory remembered; Planning controls and rent theory; Hierarchical planning systems; Urban rent theory; Rents, economic and commercial; Summary and conclusion; 3 Coping with Changes in Demand; Introduction; The extensive margins; The intensive margin

Capital longevity and the asymmetry of changeThe process of change in the housing market; Summary and conclusions; 4 How Efficient is the Property Market?; Introduction; The economic concept of efficiency; Efficient markets; The evidence; Tests of market efficiency; Conclusions; 5 Market Inefficiency: Causes and Consequences; Introduction; Why the property market is imperfect and inefficient; Price determination and the theory of the core; The consequences; Conclusions; 6 The Supply of Land for a Particular Use: Speculation and Uncertainty; Introduction; Speculation; Uncertainty

Monopoly rents and wine productionMonopoly rents and shopping centres; Summary and conclusions; 11 Ownership and Control: Minimum Rents; Introduction; Minimum rents; Minimum rents in an urban environment; Summary and conclusions; 12 Information, Uncertainty and the Property Market; Introduction; Modelling the search for information; Information, search and the property market; Searching for housing in practice; The housing market; The developer and land supply restrictions; Summary and conclusions; 13 Land Availability and Land Banking; Introduction; Land availability

Land banking by private firmsPublic land banking; Summary and conclusions; 14 Contiguity: Site Assembly; Introduction; A game theory approach; A question of time; Conclusion; 15 Contiguity: Compulsory Purchase and the Scale of Development; Introduction; Compulsory purchase and the speed of acquisition; Scale economies, acquisition costs and history; Summary and conclusion; 16 Contiguity: Land Reallocation and the Price of Land; Introduction; Land reallocation and adjustment; Size of site and the price of land; Summary and conclusions; 17 The Taxation of Land and Development Gains

English.

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