• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

' To what extent should the land and property market be deregulated, i.e. devoid of planning and land use regulation, and left to the market to determine, when, where, how much and for whom to develop or redevelop the built environment? What might be the

Extracts from this document...

Introduction

ECONOMICS COURSEWORK ' To what extent should the land and property market be deregulated, i.e. devoid of planning and land use regulation, and left to the market to determine, when, where, how much and for whom to develop or redevelop the built environment? What might be the outcome of such a change of policy and what might be the social costs and benefits thereof?' "The British Land-Use planning system constitutes one of the most comprehensive systems of government land-use regulation anywhere in the industrialized world" (Pennington M, 2002) Since the end of the 1940's all land excluding Agricultural has had to follow the requirements of applying and obtaining Planning Permission due to the fact that development rights were nationalized. Anyone whether it be commercial or private wanting to develop their land / property must apply to their local planning authority for planning permission. Whether planning permission is granted or not is based on that area's land-use strategy which is set out in the local district plan or other unitary development plans. These plans are used by our country's planners in order to try and obtain some sort of balance in the type of development that takes place in this country and also to ensure that these developments are potentially beneficial to the people that use them. ...read more.

Middle

residential. On the other hand "The common assumption underlying the continued political support of such comprehensive land-use regulations is that the allocation of land uses and of environmental resources more generally is 'too important to be left to the market'." (Pennington M, 2002) I agree with this statement because we have found that, in most cases, we can leave commodities and such things up to market forces, whereas land is looked upon as a 'special case' because it is very important, and therefore cannot be trusted to operate efficiently if it were left to the market to operate freely. This therefore leads me to believe that we should protect the essence of our towns and cities and leave these matters up to the state rather than 'selfish individuals'. Further more, one of the most frequently sited arguments found in support for statutory planning is that people that are involved in the area are 'only thinking about themselves' and therefore shouldn't be allowed free reign over the market. The land and property market I believe is an Oligopoly type market structure due to the fact that there are a few large firms which are operating at the top of the market. ...read more.

Conclusion

Improving information on land-use trends, population figures, schools and hospitals allows us to increase levels of integration within communities and the environment and also allows us to avoid the cycles of 'boom' and 'bust' and inappropriate location choices. Finally land-use planning is important in the UK in-order for government regulations to ensure that those families on lower incomes can afford a greater degree of access to environmental quality. This is obtained by increasing measures to improve standards of living and quality of life, whilst at the same time moving economic activity in to these areas which are suffering from unemployment and other aspects of social deprivation, away from current locations which are becoming 'over-heated' (Pennington M, 2002). Over-heated is a term used for economic areas which have experienced fast economic growth, and that are now struggling to keep up with demand (resources are being stretched) (Bamford C, 2002). In conclusion I believe that the UK should have Land-Use and Property regulations in place, because if these regulations aren't present then our countryside will start to be affected due to the effects of 'Urban Sprawl' and developers building where ever, when ever and to whatever size they want. If this happens then our country will loose the feel that it has, of fresh open fields that carry on for miles, because you will find developments all over the place which would start to make the country feel swamped. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. Bellway Plc is a holding company with subsidiaries; its main subsidiary company is Bellway ...

    Consolidation in the homebuilding industry * Low skill labour * Integrating technology in the home * Buy to let market boosted by pensions fears STRENGTHS * Diversified portfolio of products Bellway has a diverse range of homes covering the full spectrum of the housing industry from small apartments to large

  2. To what extent is the UK airline industry a contestable market?

    that would lower the fares and in order for airlines to continue in the business they are only able to make normal profit in the long run. The diagram below shows a normal contestable market diagram and how the price and quantity supplied being determined.

  1. Chinese car market overview. Citroen case study

    * to integrate China in the world economy by bringing it more fully into the world trading system, and by supporting the process of economic and social reform that is continuing in China. * to make Europe's funding go further.

  2. Retailing In India - A Government Policy Perspective

    Property Regulations There is a shortage of good quality retail space and rents are high for what is available. Compounding these shortages are the following problems: � Very high stamp duties on transfer of property - varies from state to state ( 12.5% in Gujarat and 8% in Delhi)

  1. Changes in the business environment and their impacts on business strategies.

    A business's relationship with its environment is typically founded on its service to key "customers" and their satisfactions with its performance revealed by buying patterns, new legislation, party conferences, annual general meetings and stock market prices. However a typical, neutral and managerial description of environmental factors and pressures would cover

  2. What market forces have affected the price of property in Spain?

    Since the government (Spanish) is already running a deficit, and the country is running a trade deficit, the government's ability to use fiscal and monetary policies to boost the economy out of recession will be severely restricted. This can jeopardise the future of the Spanish economy.

  1. Briefly explain why initial levels of GDP might influence subsequent economic growth.

    its growth was appreciably slower than that of many countries with similar initial income level. This was confirmed formally by a regression of growth rates across European regions which took account of initial income levels and employment structure and found that, controlling for these factors UK growth was about .5 percentage points lower than elsewhere in Europe.

  2. The Quest for Optimal Asset Allocation Strategies in Integrating Europe.

    His paper also compares the relative importance of the three EMU pillars of exchange rate stability, real convergence, and monetary policy convergence in explaining the time variations of equity market integration. He finds that in particular the reduction and elimination of exchange rate volatility and to some extent also monetary

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work