UK must expand supply to compete with European house prices
Annabel Denham writes in The Spectator
Christopher Snowdon quoted in The Mail
Kristian Niemietz referenced in Investors' Chronicle
The article said:
“Kristian Niemietz, head of political economy at the Institute of Economic Affairs think-tank, noted on a recent panel discussion that house prices have trebled in real terms in Britain since 1995 while in the eurozone they have gone up by just 50 per cent. Britain would need to instantly build another 3.4mn homes to match what EU countries have done on average, he said.”
In the discussion, Kristian also outlined the myriad secondary negative effects of high house prices, including lower labour mobility and higher retail prices.
The full article can be read here.