The accountancy of marketisation: Fictional markets in housing land supply

Housing Market Behavior with Restrictive Land Supply

This thesis examines, both theoretically and empirically, the effects of land supply restriction on housing price and housing production. The analysis is conducted in the context of a closed city, where any increase in population must be accommodated within the market. The theoretical part of the analysis extends the urban spatial theory by including natural and contrived land supply restrictio...

Housing market adjustment and land - supply constraints

Significant differences exist between national, regional, and local housing markets in the extent to which land is available for new housing development and in the planning regime which regulates the supply of land. The author examines the impact of different levels and forms of planning restraint on the process of market adjustment, including effects on house and land prices, on quantity of ne...

Housing Price, Land Supply and Revenue from Land Sales

In a recen t study, Peng and Wheaton empirically exam ine the effect of restricti ve land supply on Hong Kong house prices. However, we argue that the impact of the supply of new land by the Hong Kong government is not as important as they maintain in accounting for the volatile house prices in Hong Kong. We show that there is no causal relation ship between land supply and housing prices. Our ...

Essays on housing supply, land use regulation and regional labour markets

An Agent-Based Model of Coupled Housing and Land Markets

This paper describes a spatially disaggregated, economic agent-based model of urban land use that includes explicitly specified and coupled land and housing markets. The three types of agents— consumer, farmer and developer—all make decisions based on underlying economic principles, and heterogeneity of both individuals and the landscape is represented. The model can be used to simulate the con...