The Economics of Property and Planning Future Value

This book introduces the interlocking disciplines of property and planning to economic theory and practice.

Unlike any other available textbook, The Economics of Property and Planning skilfully introduces the reader to the interplay between property and planning using an economic lens. As resources become scarce, there is a growing need for students to understand the principles of economics in property and planning, especially given the rapid social, environmental, technological, and political changes that are shaping places.

The book begins with an outline of key economists and economic problems, then resources and scarcity, before examining macro- and microeconomic factors at play in property and planning. Furthermore, this book covers a variety of topics, including spatial and locational modelling, fiscal approaches to redistribution, regeneration and renewal, and transport and infrastructure financing. There is also a particular focus on contemporary issues such as climate change, environmental limits to economic growth, sustainability and resilience, and affordable housing. This book also introduces practical evaluation tools and appraisal, plus a look at property and planning with respect to macroeconomic objectives, policy, and new directions.

With property and planning essential factors in economic thinking and doing, this book provides insight into what future places will look like in real terms and how they will be shaped by policy. Targeted disciplines for this book include Economics, Planning, Property, Construction, Geography, Environmental Management, Sustainability, Housing, Built Environment, Land Economy, Urban Studies, Regional Studies, and Public Policy.

1. Introduction to future value: the economics of property and planning 2. Economists and economic problems in property and planning 3. Resources and scarcity in property and planning 4. Microeconomics: market forces and markets 5. Macroeconomics in the economics of property and planning 6. Spatial and locational approaches in the economics of property and planning 7. Market failure, externalities, and efficiencies in property and planning 8. Housing and neighbourhood in the economics of property and planning 9. Fiscal approaches and value capture in the economics of property and planning 10. Infrastructure economics in property and planning 11. Climate change, environmental limits to economic growth, sustainability, and resilience 12. Measuring value in the economics of property and planning 13. Policy and new directions in the economics of property and planning

Graham Squires [BA (Hons), PG(Cert)THLE, MA, FHEA, MRICS, PhD] is an International Economist, Geographer, and Planner with expertise in Property and Housing. He is the author of six books and has written over 100 peer-review journals, conference papers, grant-funded reports, and book chapters. He has lectured in the United Kingdom at The University of Manchester, UWE Bristol, and Birmingham University. He has been a visiting scholar at the University of California Berkeley, University of Illinois, and Delft University. Graham is President-Elect of the Pacific Rim Real Estate Society (PRRES), and council member of the New Zealand Association of Economists (NZAE). He is a Fulbright Scholar, CEO of The Property Foundation, and Member of The Royal Institution of Chartered Surveyors (MRICS). Graham is currently a professor in the School of Economics and Finance, Massey University, New Zealand.