The UK housing market is dysfunctional. In an era marked by unprecedented challenges in the housing sector with a dwindling supply of homes, declining rate of ownership and soaring affordability barriers, the need for comprehensive interventions is paramount. With so many factors underpinning the flaws, a one size fits all cure is not possible. However, this series endeavours to share a range of interventions and solutions to improve the functioning of the British housing market.
Latest Articles
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Article | Intelligent Investment
Should we increase housing density?
The UK, one of Europe's most sparsely populated countries, faces a crucial question: should housing density be increased to address the housing crisis?
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Article | Creating Resilience
Should we reform Stamp Duty Land Tax?
Most countries impose some form of property transaction tax. In England, we have Stamp Duty Land Tax (SDLT) on the purchase and Capital Gains Tax (CGT) on the sale.
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Article | Creating Resilience
Should we reform the mortgage market?
7.8 million homes have been purchased using a mortgage since the new regulations of the Mortgage Market Review (MMR) came into force 10 years ago. In total, there are currently 8.8 million outstanding mortgages, which equates to just under 30% of all households.
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Article | Creating Resilience
Should we reintroduce Help to Buy?
Help to Buy (HtB) was introduced in April 2013 with the dual aim of boosting housing supply and helping first time buyers onto the property ladder. Under the scheme, the Government offered buyers an equity loan of up to 20% (40% in London) of the price of a new home.
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The concept of a Green Belt originated in 1889, when Lord Meath proposed a Green Belt or girdle for London. These areas were established around major cities with the primary objective of preventing urban spawl, The Green Belt policy has been modified over the years, but its core objectives remain the same.
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Overseas buyers displacing local buyers in the London housing market is regularly flagged as a matter for concern. And given the supply and demand imbalance, it seems logical to restrict the number of overseas buyers, which would then free up housing stock for Londoners.
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A notable consequence of the broken housing market over the past few years has been rapidly rising rents in the private sector. Over 2023 rents increased by 6.2% across the UK, the highest annual figure on record.
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There has been a rapid increase in the number of properties rented out on a short-term basis. This has been facilitated by the growth of online ‘peer-to-peer’ accommodation platforms such as Airbnb, Booking.com and Expedia.
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