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Shovel-Ready? An Empirical Investigation of Stalled Residential Sites

Author

Listed:
  • Patrick McAllister
  • Emma Street
  • Peter Wyatt

Abstract

Through economic booms and slumps, the supply of housing has failed to keep pace with demand. The political solution to this problem has consistently focused on the supply side of the equation. The speed of the economic downturn in 2007/8 left many developers with extant planning permissions for residential developments across the country. The Government believes that if it can persuade developers to 'get Britain building' this will provide a Keynesian kick to the economy and go some way to addressing the supply and demand mismatch. But as moribund economic conditions continue, it is clear that sites are not being developed in significant numbers; they are "stalled". But why are they stalled, how many dwellings do they represent, where are they and what sort of housing schemes are involved? Organisations such as the Local Government Association and the Campaign for the Protection for Rural England have argued that the supply of housing sites is adequate with planning permission for over 400,000 housing plots unimplemented. The typical opposing view from the House Building Federation is that "Too many sites are now 'under water' due to charges levied on them by central and local government.

Suggested Citation

  • Patrick McAllister & Emma Street & Peter Wyatt, 2013. "Shovel-Ready? An Empirical Investigation of Stalled Residential Sites," ERES eres2013_259, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2013_259
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    References listed on IDEAS

    as
    1. Steven Ott & W. Hughen & Dustin Read, 2012. "Optimal Phasing and Inventory Decisions for Large-Scale Residential Development Projects," The Journal of Real Estate Finance and Economics, Springer, vol. 45(4), pages 888-918, November.
    2. Nancy Ettlinger, 2009. "Problematizing the Presentation of Poststructural Case-Study Research, or Working Out the Crisis of Representation in the Presentation of Empirics," Environment and Planning A, , vol. 41(5), pages 1017-1019, May.
    3. C.D. Adams & A.E. Baum & B.D. MacGregor, 1988. "The Availability of Land for Inner City Development: A Case Study of Inner Manchester," Urban Studies, Urban Studies Journal Limited, vol. 25(1), pages 62-76, February.
    4. Titman, Sheridan, 1985. "Urban Land Prices under Uncertainty," American Economic Review, American Economic Association, vol. 75(3), pages 505-514, June.
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    Cited by:

    1. Bentley Daniel, 2018. "Market-led housing supply and the lure of demand stimulants in the UK," Administration, Sciendo, vol. 66(2), pages 179-191, May.

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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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