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Excellent article in The Times this week. Key messages:- Housing is far more complicated than setting ambitious targets ...
13/12/2024

Excellent article in The Times this week. Key messages:
- Housing is far more complicated than setting ambitious targets and overruling understandable local concerns
-Its about. building more flats for the young and affordable homes for families
- House builders only build at the rate that they sell
- More than 40% of homes with planning permission are paused.

It seems to me that developers have pulled the wool over the eyes of this government and convinced them to grant a huge increase in planning permissions in regions where prices are highest, and hence profits are highest. It's unrealistic to expect that there will be an oversupply driving down prices.
I suspect this is more about driving economic growth. 1.5 million homes, even at £200k each, puts £300 billion into the economy, entirely funded by individuals willingly spending savings and borrowing money. What other industry could create such gains at minimal cost to the exchequer ?
What do others think?

There is much more to solving Britain’s housing crisis than extravagant promises about bulldozing the planning process

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