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Britain's Long Timeline of Housing Decline - Marginal REVOLUTION

Summary by Ground News
In 1947 the British Town and Country Planning Act made planning permission a requirement for land development. Even today more than a third of the British housing stock dates to before 1947. The act has had a slow but long-run depressing effect on construction with the result that today the average house in England costs more than ten times the average salary.

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Marginal REVOLUTIONMarginal REVOLUTION
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Britain's Long Timeline of Housing Decline - Marginal REVOLUTION

In 1947 the British Town and Country Planning Act made planning permission a requirement for land development; ownership alone no longer conferred the right to develop the land. A decline in construction was predictable but housing is a durable good. Even today more than a third of the British housing stock dates to before 1947. […]

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  • 100% of the sources lean Right
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Marginal REVOLUTION broke the news in on Tuesday, February 28, 2023.
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