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The logic here is the wrong way around - by stopping homes from being built in the most expensive cities, house prices in them rise. That's why average housing equity in Brighton rose by £89,000 from 2013-18, and £3,000 in Middlesbrough. https://www.centreforcities.org/publication/capital-cities/ https://twitter.com/BBCPolitics/status/1314162576692064256
Furthermore, as the planning system forces housing costs in the most productive areas up and up, it suppresses local consumption after housing costs in places like Brighton.
Paradoxically, this destroys jobs in Northern economies by stunting the markets they can export to.
Paradoxically, this destroys jobs in Northern economies by stunting the markets they can export to.
It is no coincidence that we have a uniquely dysfunctional planning system and some of the worst regional inequality of any market democracy.
The reality is the planning system does redistribute wealth - from the poor to the rich, and from the unfortunate to the lucky.
The reality is the planning system does redistribute wealth - from the poor to the rich, and from the unfortunate to the lucky.
Just to round off this little mini-thread - "land banking" is an artefact of the planning system. If we reformed the planning system, it would disappear. https://www.centreforcities.org/blog/no-landbanking-does-not-cause-the-housing-crisis-heres-why/
And see my more detailed thoughts here on the Government's reforms. The overall direction of travel is good.
In a sentence, you can't end the housing crisis without minimising our system's discretionary element. Everything else is detail or distraction. https://www.centreforcities.org/blog/how-will-reform-improve-the-planning-system/
In a sentence, you can't end the housing crisis without minimising our system's discretionary element. Everything else is detail or distraction. https://www.centreforcities.org/blog/how-will-reform-improve-the-planning-system/
