Housing: Market Stability — Question

Part of the debate – in the House of Lords at 2:45 pm on 23 May 2011.

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Photo of Baroness Hanham Baroness Hanham The Parliamentary Under-Secretary of State for Communities and Local Government 2:45, 23 May 2011

My Lords, the Government welcome the Joseph Rowntree Foundation's investigation and report, which was published last Tuesday. We share its desire to see a fairer, more stable housing market that does not shut out first-time buyers and where house prices rise more smoothly in line with earnings. The report concludes that there are no easy answers to address the underlying causes of market instability. However, we are working across government to assess the options that are available and will publish a housing supply strategy in the autumn.