It is well known that there is a shortage of housing in the UK and now the world’s leading economic think tank has written a report calling for more homes to be built.
The Organisation for Economic Co-operation and Development (OECD) says lack of housing is holding back Britain’s growth and it believes that planning rules are too strict.
Indeed, the OECD even suggests that the Government should relax planning restrictions in green belt areas to help deal with the housing crisis and height restrictions should also be lessened.
The report also suggests that more training would help the country which is regards as having a lack of skills and poor investment in infrastructure and research and better education would enhance productivity.
Better provision of social housing is also needed, according to the report which explains that the Government cannot afford to let up on reform to ensure that the gains of economic growth benefit the vast majority of citizens.
‘Higher housing supply would improve labour mobility and reduce skill mismatches, resulting in additional income gains. More investment in research and development and higher infrastructure provision would support technical progress and boost the capital stock, also enhancing progress in living standards,’ the report says.
It sets out detailed recommendations for boosting housing supply including a relaxation of regulatory constraints to release more land for housing, in particular by thoroughly reviewing the boundaries of protected areas of the green belt and by easing skyline restrictions.
And it calls on the country to enhance the provision of social housing where private sector activity is insufficient to promote greater equity in housing access.
|Mortgages - Find cheapest. Rates from 0.98%. 1st time buyers, remortgages, self-employed, adverse & CCJ, Landlord buy to let. Compare now|
|Sell or Let Property FREE on Houseladder 0% no fees. Free property advertising. List 1 to 1000 properties to millions of buyers and tenants. Upgrade to a Premium advert for only £30 and sell or let your property FASTER! Create Ad|
|Make Money - Earn £250 to £2000+ per month part time. Get paid every month for work you do once. Work from home. Flexible hours. Free training. No experience needed. Major UK PLC company. Find out how >>|
|How To Save Property Tax - Updated Sept 2017 “How To Save Property Tax” is widely regarded as THE tax bible for property investors. The 21st edition has just been published (Sept 2017) and is completely up to date. Read now|