Housing market models and planning

This paper reviews the application of economic housing market models to planning in the UK context. It reviews the evolution of planning policy and practice in relation to new housing supply numbers, and shows how, since 2000, a new economic paradigm has contended for attention. The main economic model-based contributions are examined, including both academic studies and models actually used in the planning and policy process. A number of issues which arise in such applications are reviewed, and the paper concludes with reflections on why it is difficult to get economic perspectives to be fully accepted and utilised within a localised and politicised planning system.