The United Kingdom is reviewing stringent policies and scanning locations regarding and where new houses can be built as it tries to address a chronic housing shortage and put its economy on a sounder footing.
The government and local councils are hoping that Britain’s real estate market will improve poor productivity growth making it easier for people to own homes and raise standards of living.
Osborne says “Britain has been incapable of building enough homes. The reforms we made to the planning system in the last parliament have started to improve the situation,”
British house prices have risen sharply in the past two years thanks largely to a lack of properties on the market.
Major infrastructure projects which include housing development may be fast-tracked and planning permission requirements could be relaxed for meeting housing targets. For such reasons, there is an ever growing demand for good quality land sites to build on.
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