Field, M. (2014) Another take on UK house price inflation. Evidence. 12, pp. 6-7.
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Abstract:
There are mixed responses to signs that the UK’s housing market is recovering from the 2007-08 depression: anxiety in some quarters about what rising housing prices and costs mean for a growing number of households, and satisfaction in others for the resilience being shown by a ‘free’ economy.
With those thoughts in mind, some brief suggestions are offered on what might be feasible as a deliberate approach to fostering a reduction in UK house values and subsequent market ‘sale’ prices, over and above any public ‘hopes’ that prices might fall if there was to be a significant amount of new house-building – a ‘classic ‘economic tenet that a suitably-supplied market will exert a deflationary pressure on prices. There seems a distinct naivety (or wishful-thinking) that the current interests responsible for building any new abundance of properties will, by themselves, bring that about at such a speed to exert a real check on house prices – one should imagine not, if that might also depress a growth in profits – or that this would be sufficient to address the underlying market failure.
Uncontrolled Keywords:
housing, market, house prices, reductions
Creators:
Field, M.
Publisher:
Housing Quality Network
Northamptonshire and East Midlands:
Housing
Local Economy and Regeneration
Local Economy and Regeneration
Faculties, Divisions and Institutes:
Date:
September 2014
Date Type:
Publication
Page Range:
pp. 6-7
Journal or Publication Title:
Evidence
Volume:
12
Language:
English
Status:
Published / Disseminated
Refereed:
Yes
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