Models of urban housing markets were originally developed with simplified assumptions including a featureless plain. Urban form in these models is a one dimensional output in the shape of housing density. Subsequent empirical developments using hedonic price modeling and sub-market models have...

The classic property market cycle is conceptualised as a short term adjustment process generated by the interaction of occupation demand, the business cycle, the national credit cycle and supply lags consequent on the development cycle. Within the model yields are a function of the required rate...