housing development

The UK government has delivered only 23 percent of its 1.5 million homes target in the first twenty months of Parliament, with annual completions running well below the level required. Planning reform, construction costs, and mortgage market volatility are all contributing to the shortfall. Jamaica, which operates without a national housebuilding target and has no systematic measure of its own supply deficit, should take careful note of what happens when housing ambition outpaces delivery.