Economics and Property provides a clear and easy-to-read introduction to any property economics module in a degree leading to a profession in real estate, surveying, construction and related courses in the built environment. It focuses on the core principles to provide the economic background necessary to gain a thorough understanding of commercial and residential sectors and the related markets for development, construction and occupation of property.
The fourth edition has been comprehensively updated to cover the concepts and methodological approach that property economists require to succeed in the twenty-first century. The text is characterised by an emphasis on understanding commercial and residential property markets, addressing current issues such as housing crises, modern methods of construction and the performance of green buildings. The text focuses on introducing:
• core economic principles
• the role and nature of government intervention
• an understanding of the economic indicators used to assess property markets
• ways to achieve the development of sustainable property.
Key features include:
• a clear, direct and user-friendly style
• clear aims and objectives for each chapter
• summaries at the end of each section
• margin notes highlighting definitions, useful websites and background information
• a glossary of terms commonly used in property economics
• extensive use of full colour tables and figures
• a set of case studies and tutorial readings focusing on the housing market
• references to further reading.
Chapter 1: An introduction to economics
Chapter 2: Economic systems of resource allocation
Tutorial 1: What is affordable housing?
Chapter 3: The theory of demand
Chapter 4: The theory of supply
Tutorial 2: The supply of housing in the UK
Chapter 5: Development, construction, and occupation
Chapter 6: Government intervention
Tutorial 3: The broken housing market
Chapter 7: Managing the macroeconomy
Chapter 8: Measuring the macroeconomy
Tutorial 4: Homelessness and inequality
Chapter 9: Sustainable development
Tutorial 5: The land market
Outline answers (to tutorial questions)