The Funding for Lending scheme has ended early for home loans. A move that has been taken to prevent a potential housing bubble. Mark Carney, the governor of the Bank of England, acknowledged in an interview with the Guardian there is a large supply issue and more credit isn't going to solve our problems.
He [Carney] said that Britain was building half as many homes a year as Canada despite having a population twice as large, and added:
It is widely acknowledged that there is a very large supply-side issue here. I fully recognise that Canada is the second-biggest country in the world. It's easy to build housing as it's easy to find places [to build]. But it does give you a sense of the issues around the constraints on supply and the movements in prices you see as well. They all reinforce that sense that there is a supply issue. And there's nothing the Bank of England can do to change that.
This move makes a lot of sense. We need government and banks to make incentives in the right place, not help fuel demand that cannot be met.
Everyone recognises that housing supply is an issue. Land supply is part of that issue too. We need to make sure the right incentives are in place for an active and transparent land market. We also need citizens to look at the land around them and question why that land isn't being used for housing.
Land Wiki is a tool for citizens to help identify plots of land that can be better used. Anyone will be able to contribute to the data. We're doing this so citizens can be part of the solution having data and tools to make better decisions.