Question
How would you work out the change in number of new homes bought on floodplains? 1. New homes built on floodplains each year Income quintile
How would you work out the change in number of new homes bought on floodplains?
1. New homes built on floodplains each year | Income quintile | |||||
Bottom | Second | Middle | Fourth | Top | Total | |
Baseline | ||||||
New home planned to be built on floodplains by income quintile, number pa | 8000 | 7200 | 4500 | 2300 | 3000 | 25000 |
Average price of new homes built on floodplains, | 120000 | 180000 | 232000 | 315000 | 820000 | 259380 |
Option X | ||||||
Climate Change Levy (% of baseline price) | 5% | 5% | 5% | 5% | 5% | |
Average price including Levy, | 126000 | 189000 | 243600 | 330750 | 861000 | 272349 |
Price elasticity of demand (PED) | -0.90 | -0.70 | -0.20 | -0.10 | 0.00 | |
Change in number of new homes bought on floodplains | 0 | |||||
Remaining new homes built and sold on floodplains | 8000 | 7200 | 4500 | 2300 | 3000 | 25000 |
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