Simon Tilford, chief economist at the Centre for European Reform, writes:
The British have the least living space per head, the most expensive office rents and the most congested infrastructure of any EU-15 country. Thanks to a rapidly growing population – the result of a healthy birth-rate and immigration – these trends are worsening steadily. At the same time, the British economy is languishing in a prolonged slump brought on by a collapse of demand. The answer is obvious: Britain needs to build more. Unfortunately, the obstacles to development are formidable….
A similar problem to Australia: restricted land release drives up prices, making home ownership inaccessible to the younger generation while damaging the construction industry.
Read more at Centre for European Reform: Why British prosperity is hobbled by a rigged land market.