Targets for building new homes will not be met if we fail to address the broken land market.
Alice Martin, Josh Ryan-Collins, Laurie Macfarlane
08 May 2017
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
Housing & land
The New Economics Foundation depends on its supporters’ generosity. If you value what we do, please consider making a donation.
Whoever becomes the next mayor will need to rise to the challenge of the capital's affordability crisis
03 March 2020
An opportunity to build genuinely affordable homes is slipping through our fingers.
18 February 2020
Replacing business rates with land value tax could save small businesses money, and undo some of the cuts to local authorities.
Alfie Stirling, Sarah Arnold
11 December 2019
Solving the land and capacity challenges
Joe Beswick, Duncan McCann, Hanna Wheatley
20 November 2019