Everybody agrees there is a housing crisis, but the pace of action in response is still too slow
House prices remain firmly on the rise, with the annual rate of increase coming in at 8.6 per cent in June, according to. This confirms the acceleration in house price inflation seen this year, driven by a lack of supply and strong demand from buyers.
The obvious longer-term answer to this is increased supply. But despite some progress in increasing completions, the housing crisis is still not getting the priority it deserves.Plain packaging worked to reduce smoking. Unhealthy food should be nextThis is in part because the Government – and politicians in general – find themselves conflicted in some areas.
Some progress has been made and some valuable initiatives advanced, but the pace of action is too slow. Way too slow. The space left by the lack of real reform has been filled by a raft of schemes to support supply and try to reduce the affordability gap for buyers. Some have had modest success, others have achieved little. Many have had unintended consequences - the Help-to-Buy scheme has assisted many buyers but has surely also pushed up prices.
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