The House Purchase Market
This chapter, in analysing the house purchase market, concentrates upon the demand and supply of houses for owner occupation, although much of what is said about the supply of new dwellings applies equally to the production of houses for the public market sector. The plan of the chapter is, first, to consider the process by which the owner-occupied market works, then the main determinants of demand and supply will be discussed and, finally, attention is paid to the determination of relative house prices.
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