Examining Public Policy and Property Markets

Abstract

The focus of this book is on how public policy -and especially the planning system -both shapes and reflects the essential characteristics of land and property markets. It challenges the common misconceptions that property markets operate in isolation from public policy and that planning permission is the only significant form of state intervention in the market.Planning, Public Policy & Property Markets contends that effective state-market relations in land and property are critical to a prosperous economy and a robust democracy, especially at a time when development aims to be sustainable and environmental protection needs to be matched by urban and rural regeneration.The book thus reflects an increased realisation among academics and practitioners of the importance of theoretical integration and 'joined-up' policy-making. Its rounded perspective addresses a significant weakness in the academic literature and will encourage broader debate and a more pluralist agenda for property research.Prominent contributors present important new research on different market sectors and policy arenas, including regeneration and renewal, housing growth, housing planning, transport and economic competitiveness, while the editors specifically draw out more general lessons on the dynamic nature of the state/property market relationship in a modern economy. This book will encourage all those involved in property research who strive for theoretical and practical connectivity to demonstrate that, just as property market operations cannot be analysed without understanding state processes, policy decisions cannot be taken without an appreciation of how the market operates.

Estimating the Benefits of Sub-Saharan Africa Urban Land Use Planning System: A Methodological Discussion

“…Rather, they have been used in relatively few cases where organised data exists. Even so, in the developed where these methodologies have received extensive application relevant studies have often resulted in disagreement over findings due to complexities associated with their application (see Quigley and Rosenthal, 2005;Adams et al, 2005). For example, the controversy on attributing the value of planning to planning constraints or amenity from the standpoint of these approaches still lingers (see Ihlanfeldt, 2007).…”

Planners as market actors: the role of local planning authorities in the UK’s urban regeneration practice

“…In other words, by thinking explicitly about the market impact of the tools they use, planners are likely to use those tools more effectively in transforming market operations. This paper therefore seeks to apply and develop one such approach which classifies planning instruments according to whether they shape, regulate, or stimulate market behaviour or build the capacity to do so (Adams et al, 2005;Adams and Tiesdell, 2010;. Table 1 shows different types of planning instruments, their market impact, sub-types and examples, which are briefly discussed hereinafter.…”

Why housing price in Hong Kong? An explanation in game theory approach

“…However, many studies have manifested that stakeholder's strategic planning is affected by the powerful connections between the institutional background and market processes (Healey, 1992;Van der Krabben and Lambooy, 1993;Keogh and D'Arcy, 1999;Adams et al, 2005;Buitelaar, 2007). In this way, developers' strategies are affected by the policy set by the government and the market processes.…”