ABSTRACT
In the British commercial property market, capital values and rents are essentially determined in an open and uncontrolled market. Generally, however the price of what is available to be purchased is outside the control of government. The owner-occupied housing sector is similar in that prices are determined in uncontrolled markets. The value of a property is commonly calculated as a multiple of the full rental value of the property. The capital values that owner-occupiers of commercial property pay are the same as those determined in the investment market. The valuation of land for housing development is in principle the same as for commercial development, and the residual land valuation will vary with regional house price levels. In order systematically to review the role of all the actors in the planning process and urban land and property markets, they are considered in four categories: public actors, private actors, professions and pressure groups.
