High house prices and under-provision of housing in both the occupier and rental markets are long standing issues in the UK. House prices have increased in the UK over a long period: by 273 percent in real terms since 1959. The rate of increase has accelerated in recent years; since 1997 house prices have doubled while earnings have only increased by 28 percent, illustrating the increasing affordability problem.
In September 2012 a series of policy initiatives were announced aimed at boosting supply and increasing access to housing. These policies have been summarised in this updated briefing.