LOCAL HOUSING SUPPLY AND THE IMPACT OF HISTORY AND GEOGRAPHY
||Meen, Geoffrey; Nygaard, Andi
||LOCAL HOUSING SUPPLY AND THE IMPACT OF HISTORY AND GEOGRAPHY
||17th Annual European Real Estate Society Conference in Milan, Italy
||This paper considers the impact of existing land-use patterns on housing supply elasticities in local areas of England, under existing planning policies. The paper demonstrates that, despite common national planning policies, local supply responses to market pressures vary considerably, because of differences in historical land uses. The study area covers the Thames Gateway and Thames Valley, which lie to the East and West of London respectively. However, whereas the latter is one of the wealthiest areas of England, the former includes some of the highest pockets of deprivation and is a government priority area for increasing housing supply. Due to differences in historical land use and geography, the price elasticity in the least constrained area is approximately six times higher than the most constrained. Given the considerable local variations, a question arises whether it is reasonable to expect all local authorities to meet the same targets.
||Housing supply, land-use patterns, planning policy, persistence
||file.ppt (1,015,296 bytes)
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||Housing Economics (2)
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