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Housing Markets and Planning Policy / Edition 1

Housing Markets and Planning Policy / Edition 1

by Colin Jones, Craig Watkins


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Housing systems in many countries are now more market-oriented than ever before. This is particularly true of the UK, where there is heightened interest in the ability of the market to deliver new housing, as well as considerable debate among housing academics and policy makers over the extent to which policy instruments can be used to steer market processes. This increased market orientation means a greater understanding of market economics is needed.

The challenges of providing affordable housing, while simultaneously addressing the problems of low demand housing in some areas, together with the revitalisation of neighbourhoods in need of renewal, also underline the need for a better understanding of the structure and operation of housing markets at local and neighbourhood level.

This timely contribution to the field addresses the main housing and planning policy challenges in the UK today. It does so by examining the structure and operation of the urban housing system and then exploring both conceptual and empirical analyses of the workings of the market. The authors then consider the lessons for policy makers, discussing the limitations of the policy framework and considering the strategies for integrating market information into the analysis undertaken in practice.

Housing Markets & Planning Policy is an invaluable advanced text for students of land economy, land management, urban planning, housing and urban studies. The authors provide a uniquely detailed analysis of an important policy area that builds on a strong theoretical basis drawn from housing economics. With the challenges posed by the instability of the housing market, it will be of particular interest to academic researchers, policy-makers and housing and planning practitioners.

Product Details

ISBN-13: 9781405175203
Publisher: Wiley
Publication date: 12/02/2009
Series: Real Estate Issues Series , #41
Pages: 224
Product dimensions: 6.90(w) x 9.70(h) x 0.70(d)

About the Author

Colin Jones is Professor of Estate Management, School of the Built Environment at Heriot-Watt University. He has published widely on spatial property markets, urban regeneration and the economics of housing policy.

Dr Craig Watkins is a Reader in the Department of Town and Regional Planning at the University of Sheffield. His research interests include housing economics and policy, urban regeneration and the analysis of commercial property markets.

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Table of Contents

Acknowledgements ix

1 Introduction 1

One housing market or many housing markets? 2

Housing markets and planning policy 4

The analytical approach 5

Aims and objectives 8

The structure of the book 8

2 The Housing Problem 11

Context 12

Housing market trends 14

Spatial house price trends 21

Affordability 25

Economics of the house building industry 30

Low-demand areas 34

Wider planning policy context 35

Conclusions 38

3 Spatial Structure of Housing Markets 41

A model of an urban housing market 41

The theoretical impact of planning 45

Empirical evidence on the impact of planning 47

Planning the housing market 51

Housing market areas and processes 54

Case studies of HMAs 60

Implications of HMAs for planning 64

Conclusions 65

4 Understanding Housing Submarkets 69

Origins of housing submarket studies 70

Theoretical basis for housing submarkets 72

Defining and identifying housing submarkets 76

Temporal dynamics of housing submarkets 85

Modelling submarket structures 87

Conclusions: submarkets as an analytical framework 88

5 Dynamics of the Housing Market 91

Choices and constraints 92

Migration and spatial house price trends 95

New house building, urban form and local housing market dynamics 97

Intra-urban housing market dynamics 99

Neighbourhood dynamics 103

Neighbourhood succession 107

Neighbourhood revitalisation 110

Conclusions 113

6 Planning for the Housing Market 115

Spatial change, planning and housing 116

The evolution of planning for housing markets 121

Current practice in planning for housing 124

The operation of the planning system 126

Reconciling the evidence: broader political and policy concerns 135

Conclusions 137

7 Planning Policies and the Market 141

Planning policies and the market 142

The changing housing policy context 146

Provision of affordable housing 147

Encouraging social mix 153

Sustainable development 157

Conclusions 160

8 Conclusions and the Way Forward 163

Current and future housing market context 163

The contemporary policy agenda and the housing challenge 166

Towards a framework for housing analysis 169

Reshaping the system of planning for housing 172

Local housing market analysis and planning practice 174

The challenge to planning and the way forward 181

References 189

Index 209

What People are Saying About This

From the Publisher

"For an academic audience, and as a teaching vehicle, the book has much to commend it. There are excellent summaries of many aspects of the application of economic theory to housing and planning issues. This includes very clear expositions of the theory and application of housing market areas, housing submarkets and the dynamics of housing markets. " (Journal of Housing and the Built Environment,
18 April 2011)

"Overall, Housing Markets & Planning Policy is a contribution worth reading, as it addresses the conundrum many planners and policy-makers face across the globe- how to control sprawl by limiting development while also tackling affordability problems by encouraging new building. This book provides much sophisticated food for thought as we enter the new decade." (International Journal of Housing Policy, September 2010)

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