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.

David Adams, Ian Mactaggart Chair of Property and Urban Studies, University of Glasgow.

Craig Watkins, Reader, Department of Town and Regional Planning, University of Sheffield.

Michael White, Lecturer: researching the interaction between policy and property markets; economic analysis of property, University of Aberdeen.

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.

Acknowledgements.

Contributors.

Abbreviations.

Part 1: Introduction.

1 Examining Public Policy and Property Markets.

David Adams, Craig Watkins and Michael White

• 
  
• Introduction
  
• The Scope of The Book
  
• Property Research and Public Policy
  
• Structure of the Book

Part 2: Conceptualising Relationships.

2. Conceptualising State-Market Relations in Land and Property: The Mainstream Contribution of Neo-Classical and Welfare Economics.

David Adams, Neil Dunse and Michael White

• 
  
• Introduction
  
• Insights on Supply, Demand and Public Policy from Neo-Classical Economics
  
• Insights on Market Failure and Public Policy from Welfare Economics
  
• Conclusions
  
• Notes

.

3. Conceptualising State-Market Relations in Land and Property: The Growth of Institutionalism Extension or Challenge to Mainstream Economics?.

David Adams, Neil Dunse and Michael White

• 
  
• Introduction
  
• The Institutional Framework for Land and Property Market Operations
  
• New Institutional Economics
  
• The Political Economy of Institutionalism
  
• Uncertainty, Risk Containment and Confidence Building
  
• Conclusions
  
• Notes

4. Planning Tools and Markets: Towards an Extended Conceptualisation.

Steve Tiesdell and Philip Allmendinger

• 
  
• Introduction
  
• Understanding 'Planning'
  
• Mainstream Economics
  
• The Political Economy of Institutionalism
  
• A Typology of Planning Tools
  
• Market Characteristics
  
• Conclusions
  
• Notes

Part 3: Unravelling the Relationships.

Section 3.1: Modelling Relationships.

5. Modelling Local Housing Market Adjustment in England.

Glen Bramley and Chris Leishman

• 
  
• Introduction
  
• Background
  
• Datasets
  
• Modelling Framework and Techniques
  
• Estimation of Key Relationships
  
• Policy Simulations
  
• Conclusions
  
• Appendix 5.1: Variable Definitions and Sources

.

6. Estimating the Impact of Planning on Commercial Property Markets .

John Henneberry, Tony McGough and Fotis Mouzakis

• 
  
• Introduction
  
• Model Development and Specification
  
• Empirical Study and Results
  
• Conclusions
  
• Notes
  
• Appendix 6.1: Results

Section 3.2: Measurement Issues.

7. UK Roads Policy, Accessibility and Industrial Property Rents .

Neil Dunse and Colin Jones

• 
  
• Introduction
  
• Roads Policy and the UK Motorway Network
  
• Transport Infrastructure and the Spatial Economy
  
• Measuring the Effect of Transport Investment
  
• Hedonic Pricing Analysis ...