Market failure and the London housing market

GLA Economics’s latest analysis of the London housing market reveals ample evidence of market failure. The report states that housing-related issues are among the most serious affecting the London economy and the lives of Londoners at present. Over recent years, demand for housing has been outstripping supply, and house prices have risen dramatically. In particular, there is a shortage of affordable housing for people on lower incomes, and social housing waiting lists are increasing.