The UK housing crisis (mobile only)

Abstract:

The UK housing market forecast gives rise to concern that the current housing market shall become unsustainable within the next ten years. Housing prices continue to rise faster than earnings.

Lower income earners will feel the brunt of these inflationary pressures on housing as they struggle to afford even the most modest of shared accommodation.

The UK Government desperately need a way to cool off the market and help keep housing affordable. There is still a lack of new housing being built and few measures have been proposed, let alone implemented to reduce price.

Summary:

This recommendation is designed to gently improve matters by massaging the housing allocation in such a way that frees up accommodation which would otherwise be tied up in an inefficient allocation of resources.

Policy recommendation:

The proposal is to introduce an unused bedroom tax on all property within the housing market, on both property for sale or for rent. This encourages downsizing which therefore in turn will free up more homes and reduce prices without drastic, draconian measures.

Author: David Ian Bennett

Hi

Date: 20th Oct 2020

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