Tackling housing market volatility in the UK. Part I: Long- and short-term volatility

Mark Stephens

    Research output: Contribution to journalArticle

    Abstract

    The UK housing market has exhibited persistent price volatility over the past
    40 years, which has deleterious social and economic consequences. This is the first of two papers to synthesise the work of the Joseph Rowntree Foundation’s Housing Market Taskforce that was established to identify long-term solutions to tackle, first, the root causes of volatility and, second, to provide better protection for households from its consequences. This paper deals with the first of these issues. It argues that there is a need to improve housing supply to tackle volatility in the long run, but that that counter-cyclical policies are also required to tackle volatility in the short run.
    Original languageEnglish
    Pages (from-to)367-380
    Number of pages14
    JournalInternational Journal of Housing Policy
    Volume12
    Issue number3
    DOIs
    Publication statusPublished - 2012

    Keywords

    • UK housing market
    • housing market volatility
    • housing supply

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