The housing industry’s consultation period for Monetary Policy Committee member Kate Barker’s review of issues affecting UK housing supply has ended.
The Barker Review has examined the role of competition, capacity, technology and finance in the house-building industry; and how this interacts with planning systems and sustainable development objectives, to find out why the UK responds so slowly to housing demand.
The Review has entered its interim stage, identifying options for Government action in housing markets, including the use of fiscal instruments, before delivering an interim report to the Chancellor and Deputy Prime Minister by Autumn 2003.
The Government suspects the slow response is largely responsible for the strong growth in UK house prices and has recognised reforms are needed to increase housing supply, particularly of affordable housing, and to reduce volatility in the market.
