Abandoned Housing targets undermine New Supply

The abandonment of house building targets could not have come at a worse time. There is already evidence that local authorities are scaling back on plans and NIMBY-dominated councils now have even more leeway to stop any new homes being built, which they are making good use of. A weakening economy, reflected in a faltering for-sale market, will see volume house builders–the main source of new supply–reduce development activity. Giving local authorities greater freedom to block new housing will further reduce incoming supply, worsening housing affordability [...]

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Mary-Anne Bowring: Abandoned housing targets undermine new supply just as we need it most