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' 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

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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.

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