The long-run bite elasticity of supply is quite high. George Fallis estimates it as 8.2 (Fallis, G. 1985), but in the short drop supply tends to be very damage inelastic. Supply compensation elasticity depends on the elasticity of substitution and supply restrictions. There is cogent substitutability both between field and materials, and between labour and materials. In high-value locations, multi-story concrete buildings are broadly built to reduce the expanse of excessive field used.

The main advantages of using a buying agent are the savings in time and cabbage and access to properties not free on the open market. Whilst not quite all charge a registration fee (anything between £500 and £2500) and a percentage of the purchase price of the freehold (usually between 1.5% and 2% of the sale price), the agent’s negotiating skills and access to properties before they reach the open market often mean that clients purchase properties for substantially less than they would if they went to estate agents http://www.SandAndSeaInvestments.com/ or vendors directly.