UK Housing

This is a chart that shows how, after a change in planning policy (NPPF) in the UK in 2012, the amount of land permitted for construction went up.
New building starts and completions on the other hand didn’t.
In other words house-builder hoarded the land and constrained supply.
On the other side help-to-buy continued to keep demand strong inflating prices.
Margins went up to 20%