Abstract
Over time the demand for land resources changes, brought about by changes in the size and composition of the population, the relative incomes of different groups, attitudes towards accommodation, the rate of growth of economic activity, methods of transport and the techniques of production and distribution. On the supply side, existing buildings wear out or become less suitable to present uses, and the costs of constructing new buildings or adapting old buildings change. Development is the response to such changes.
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Further Reading
J. Harvey, Modern Economics, 3rd edn (London: Macmillan, 1977) chs 10, 11, 18.
C. J. Hawkins and D. W. Pearce, Capital Investment Appraisal (London: Macmillan, 1971).
Mainly for Students, ‘Merchandising’, Estates Gazette, vol. 239, 4 September 1976, p. 740.
E. J. Mishan, Elements of Cost Benefit Analysis (London: Allen & Unwin, 1971) part IV.
M. Newell, An Introduction to the Economics of Urban Land Use (London: Estates Gazette, 1977) chs 2, 3, 5, 11.
J. Ratcliffe, Urban Estates Management (London: Estates Gazette, 1979) chs 7–12.
W. J. Reilly, The Law of Retail Gravitation, 2nd edn (New York: Pilsbury, 1953).
M. Roberts, An Introduction to Town Planning Techniques (London: Hutchinson, 1974).
L. Smith, ‘The Assessment of Shopping Needs’, Chartered Surveyor, January 1964.
K. E. Way, ‘Viability in Property Development’, Estates Gazette, vol. 239, 4 September 1976, p. 705.
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© 1981 J. Harvey
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Harvey, J. (1981). The Development Process. In: The Economics of Real Property. Palgrave, London. https://doi.org/10.1007/978-1-349-86070-8_6
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DOI: https://doi.org/10.1007/978-1-349-86070-8_6
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