20 Jan

Housing policy reform could lead to stability and growth

Housing policy reform could lead to stability and growth

Improvement in the housing market could help to lead the UK out of recession.

The benefits of a well functioning housing market can impact upon the whole economy, according to a report by the Organisation for Economic Co-operation and Development (OECD).

Reforms including changes to regulation in the financial sector, rental market rules, tax and land-use could lead to improvement in the housing market that could benefit the economy as a whole.

OECD secretary-general Angel Gurria said: "As we search for new sources of growth, as we seek to restore trust in our financial sectors, as we try to green our economies, policies related to housing can have a huge impact on our future."

Blaming "easy credit" over the past 20 years for "amplified price volatility", the OECD has made suggestions for the future of housing policy.

They advocate being more responsive to supply and demand for housing, and ensuring property taxes reflect market values.

Recent figures from the National Association of Estate Agents revealed a surge of interest from both sellers and buyers at the start of 2011.ADNFCR-1222-ID-800354794-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.