The government’s Housing White Paper is set to join the decades of policy interventions that have failed to fix the housing crisis because they do not seek to address the broken land market and its role in an increasingly unequal economy. The government’s ambitions to reduce the dominance of speculative development of new homes and strengthen the role of planning are welcome. But counterveiling policies to hand over ownership of public land to private developers and continue to prop up house prices with subsidised mortgages means these ambitions are unlikely to be fufilled.
Targets for building new homes will not be met if we continue to cede control over how land is used. Our research shows that the government’s insistence on selling off public land is fuelling the affordability crisis:
In this briefing we highlight the role of land in the economy and its impact on the housing crisis. We provide a series of recommendations designed to put land to better public use and to start to break the housing market’s dominance over our economy. These include:
The arguments and recommendations are explored in more depth in our book Rethinking the Economics of Land and Housing
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