## United Kingdom: Selected Issues

_IMF Staff Country Reports, July 28, 2014_

## Source details

**Canonical URL:** [United Kingdom: Selected Issues](https://www.imf.org/en/publications/cr/issues/2016/12/31/united-kingdom-selected-issues-41795)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/united-kingdom-selected-issues-41795/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/united-kingdom-selected-issues-41795/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/united-kingdom-selected-issues-41795/bundle-manifest.json)

## Bibliographic details
- Published: July 28, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498304337.002

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### Housing cycle volatility and drivers
- The UK housing cycle is described as "highly volatile" due to tight housing supply constraints and fluctuations in credit conditions.
- Housing supply-side constraints can be alleviated through changes to the planning system and tax reforms.
- The new National Planning Policy Framework introduced by the government is creating the incentives for local councils to increase available land for construction.
- There are early signs that this change in the planning system is contributing to the recovery in housing construction.

### Financial stability and macroprudential concerns
- Targeted macroprudential policies could address financial stability risks stemming from the housing market.
- Although mortgage credit as a share of gross domestic product has been declining in the current housing recovery, there are signs that there is a build-up of financial risks:
  - loan-to-income ratios are increasing in London and among first time buyers.

### Scope and focus
- The Selected Issues paper focuses on the housing and business cycles in the United Kingdom.
- Subjects covered include: Financial institutions, Financial sector policy and analysis, Housing, Housing prices, Macroprudential policy, Mortgages, National accounts, Prices, Private investment.

*Source: International Monetary Fund. "United Kingdom: Selected Issues" (July 28, 2014).*

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## Content in this bundle

- **United Kingdom: Selected Issues, IMF Country Report No. 14/234, July 8, 2014**
  - [United Kingdom: Selected Issues, IMF Country Report No. 14/234, July 8, 2014 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr14234.pdf.md){rel="alternate" type="text/markdown"}
  - [United Kingdom: Selected Issues, IMF Country Report No. 14/234, July 8, 2014 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr14234.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/united-kingdom-selected-issues-41795_