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Home Publications The challenge of accelerating UK housebuilding
The challenge of accelerating UK housebuilding

The challenge of accelerating UK housebuilding

Thomas Aubrey

08 January 2015

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Britain’s housing crisis results from the failure of politicians to ensure that markets work in the public interest rather than to the benefit of the unproductive few. This failure, besides the ongoing social issues surrounding housing, has had a negative impact on the UK economy through increasing monetary instability as well as lower output and employment due to a transfer of resources to pay for mostly existing assets as opposed to acquiring new goods.

This paper, which compares the UK to other OECD countries, argues that housing policy should be directed towards reducing the levels at which residential land prices are acquired at in order to generate a transformation in the business model of building houses. Such a policy requires the institutional framework of the land market to be altered, resulting in a more efficient outcome with society benefiting from the rise in land values rather than a handful of land traders.

About the Author
Thomas Aubrey is a senior adviser at Policy Network and chief executive and founder of Credit Capital Advisory. He previously ran credit and economic analytics businesses serving as the managing director of Fitch Solutions and Thomson Datastream.

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