Buckingham Palace is the Queen's official London residence and is used to receive and entertain guests on state, ceremonial

and official occasions for the Royal Family. The palace was originally built in 1705 for the Duke of Buckingham. The Palace is located between The Green Park, Hyde Park and St. James's Park. State Rooms, Ballroom & Gardens Buckingham Palace's 19 state rooms, ballroom and gardens are open to visitors during August and September while the Queen makes her annual visit to Balmoral. The State rooms house some of the Royal family's greatest treasures including paintings and the finest French and English furniture. Visit the spectacular Palace Ballroom and tour the Palace gardens with views of the west front of the Palace and the lake. There is an entry fee and tickets are limited so you should book ahead if possible. Find out more about the State Rooms, Ballroom and Gardens Changing the Guard The Changing the Guard ceremony takes place in the forecourt of Buckingham Palace at 11.30 every day in summer, every other day in winter. The New Guard marches to the Palace from Wellington Barracks with a Guards band, the Old Guard hands over in a ceremony during which the sentries are changed and then returns to barracks. The ceremony lasts about 45 minutes and is free to watch. Find out more about Changing the Guard Victoria Memorial The Victoria Memorial is the golden statue of Queen Victoria which sits in front of the Palace facing down The Mall The Queen's Gallery The Queen's Gallery is a permanent space dedicated to exhibitions of items from the Royal Collection, the wide-ranging collection of art and treasures held in trust by The Queen for the Nation.

Only a small part of the collection is on display at any time so the objects on display are continuously rotated making it worthy of repeat visits. Find out more about The Queen's Gallery The Royal Mews The Royal Mews houses the State vehicles used by the Royal Family for coronations, State Visits and royal weddings The stables are also home to the horses that take part in The Queen's official and ceremonial duties. This requires a ticket for entry. Find out more about The Royal Mews Read more: http://www.tourist-information-uk.com/buckingham-palace.htm#ixzz1nRoj2YeQ

The Tower of London is one of London's most popular and iconic tourist attractions. Built by William the Conquerer in the early 1080s the Tower's role has been as a fortress, palace and prison. One of the main reasons to visit the Tower is to see the working collection of Crown Jewels. There are 23,578 gems in the collection including one of the world's most famous diamonds; the Koh-i-Noor. Find out who dared to try and steal the Jewels in 1671 and whether they succeeded. Many people lost their heads in the Tower and the Prisoners exhibition looks at some of the Towers more infamous inmates including Anne Boleyn, Edward V, Guy Fawkes and Sir Thomas More. The Tower's history as a prison continued during the two world wars and still held executions. There is so much to see at the Tower including the 'Yeomen of the Guard', the Ravens, Henry VIII's armour, instruments of torture in Lower Wakefield Tower and the Traitors Gate. Exotic animals were given as royal gifts and animals were kept at the Royal Menagerie for the entertainment and curiosity of the court. Everything from elephants to tigers, kangaroos, polar bears, and elephants and ostriches lived in what was known as the Royal Menagerie. The stories of many of the animals kept at the Tower is told through interactive displays, and tells how the animals would have lived, what they smelt like and learn what happened when they escaped! Read more: http://www.tourist-information-uk.com/tower-of-london.htm#ixzz1nRqFMPX8

Frequently Asked Questions

Who Built the Tower of London? The Tower was built by William the Conquerer. How old is the Tower of London? The Tower is almost 1,000 years old. How do I get to the Tower of London? The Tower is well served by London Underground. The nearest tube station is Tower Hill. Tower

Gateway station on the Docklands Light Railway (DLR) is also within easy walking distance. Fenchurch Street railway station is also close by. What else can I do in the area? This area is full of history. HMS Belfast is just across Tower Bridge. London Dungeon is a short walk away. You can see a list of other attraction at the top of this page.

Opening Times
November to March: Tues - Sat 9:00 - 16:30 Sun/Mon 10:00 - 16:30 March to October: Tuesday to Saturday 9:00 - 17:30 Sunday and Monday 10:00 - 17:30 The Tower is closed 24-26 December and 1 January. Visit website for more information

Ticket Prices
Adult - 19.80 Child (6-16) - 10.45 Students - 17.05 Senior - 17.05 Family - 55.00 Discounts are available if you book online. Under 5yrs - FREE Find the latest ticket prices Reserve Tickets Now:

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Disabled Facilities
The Tower has places with difficult stairs and passageways and wheelchair access is limited. There are also a large number of steps throughout the Tower with cobbles laid in some of the roads. The Jewel House and the Crown Jewels are fully accessible to all visitors. Visit website for more information

More Information
Telephone: 0844 482 7799 Email: VisitorServices_TOL@hrp.org.uk Visit website for more information

Read more: http://www.tourist-information-uk.com/tower-of-london.htm#ixzz1nRqW8oVU

Harrods of Knightsbridge is one of the largest department stores in the world, with over one million square feet of retail space and over 330 departments. It has a distinctive logo of a green background with the gold lettering of Harrods. This enormous shop can see up to 300,000 visitors flow through its doors. Twice a year, Harrods holds a sale offering genuine discounts on hundreds of prestige items and at peak times the tills can take up to 1 million. The world famous food hall is also an attraction to visitors with its huge choice of delicacies and gourmet food on offer.

Harrods is owned by Mohamed Al Fayed whose son Dodi was killed in the same car crash as Princess Diana. Two memorials have been erected within the store in memory of Princess Diana and Dodi Al Fayed. Read more: http://www.tourist-information-uk.com/harrods.htm#ixzz1nRsgLCBJ Main Store Monday to Saturday: 10am - 8pm Sunday: 11:30am* - 6pm Selected Food Halls open Monday to Saturday: 9am - 9pm Sunday: 11:30am* - 6pm * Browsing only between 11.30am and 12 noon on Sundays Closed on Christmas Day, Boxing Day and New Years Day Read more: http://www.tourist-information-uk.com/harrods.htm#ixzz1nRsvhImW

Stonehenge, Wiltshire
Stonehenge is a circle of ancient stones erected between 3000BC and 1,600BC. It is one of the most important prehistoric monument sites in Britain. It was constructed in three phases and it has been estimated that this took more than 30 million hours of labour. The Bluestones and Sarsen stones were carried hundreds of miles to the Wiltshire site. Mystery surrounds the stone circle as to why it was built. Some think it was designed as a place to worship the sun, others believe it may have been a place of sacrifice. Visitors are not permitted near the stones unless pre-arranged. Viewing is behind a fence that runs around the stone circle You can find out more of the story of Stonehenge at Salisbury and South Wiltshire Museum. Read more: http://www.tourist-information-uk.com/stonehenge.htm#ixzz1nX24kv64

Opening Times
Spring 16 Mar to 31 May 09.30 - 18.00 Summer 1 Jun to 31 Aug 09.00 - 19.00 Autumn 1 Sept to 15 Oct 09.30 - 18.00 Winter 16 Oct to 15 Mar 09.30 - 16.00 Boxing Day and New Year's Day 10.00 - 16.00

Visit website for more information

Ticket Prices
Adult - 6.50 Child (5 - 15) - 3.30 Senior - 5.20 Student - 5.20 Family Ticket (2 adults + up to 3 children) - 16.30 Find the latest ticket prices Reserve Tickets Now:

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Disabled Facilities
Visit website for more information

More Information
Telephone: 01722 343834 Email: info@stonehenge.co.uk

Read more: http://www.tourist-information-uk.com/stonehenge.htm#ixzz1nX29duxz

Windsor Castle, Berkshire

Windsor castle is the largest and oldest occupied castle in the world and is one of the official residences of the Queen. It was originally built by William the Conquerer in the 11th Century and has seen many extensions and fortifications by English monarchs over the years. The State Apartments are open to the public and art lovers will be impressed by a collection of some of the finest paintings by Rembrandt, Canaletto and Gainsborough. Visitors can also view George IV's private apartments which are some of the most lavishly decorated rooms in the castle. The Drawings Gallerydisplays changing exhibitions of material from the Royal Library at Windsor Castle alongside a selection of treasures from the Royal Library. St George's Chapel is one of the finest examples of Gothic architecture in England. It is the spiritual home of the Order of the Garter, the senior order of British Chivalry established in 1348 by Edward III. Within the chapel are the tombs of ten sovereigns, including Henry VIII and his third wife Jane Seymour, and Charles I. More recently the Queen Mother was buried here. If you have the energy for the 200 steps, you can take the Conquer the Tower Tour for stunning views of the castle and the surrounding area. Windsor Castle is a working palace and may be closed for State functions so visitors are advised to check opening times before they visit. Read more: http://www.tourist-information-uk.com/windsor-castle.htm#ixzz1nX2mTGb5

Frequently Asked Questions

Where is Windsor Castle? Windsor castle is in Berkshire, south west of London. How do I get to Windsor Castle? Trains go to Windsor Central or Windsor & Eton Riverside stations, both of which are close to the castle. By road take the M4 to Exit 6 or the M3 to Exit 3, and follow the signs. For more detailed directions to Windsor Castle, check here. How far is Legoland from Windsor Castle? Legoland Windsor is just 2 miles away by road. When are Windsor Castle State Apartments open to the public? The State Apartments and Semi State Apartments are usually open to the public and admission is included in your ticket. Windsor Castle is a working castle, so on occasion the state apartments will be closed to the public. Ticket prices are reduced in this case. Check the website to see when the state apartments are closed.

Opening Times
Open daily

March to October 09:45-17:15 (last admission 16:00) November to February 09:45-16:15 (last admission 15:00) Windsor Castle is a working palace and may be closed for official engagements. Call or check the website before you visit. Visit website for more information

Ticket Prices
When the State Apartments are Open Adult - 16.50 Over 60/Student (with valid ID) - 15.00 Under 17 - 9.90 Under 5 - Free Family (2 adults and 3 under 17s) - 43.50 When the State Apartments are closed Adult 16.50 Senior/Student 8.00 Under 17 6.00 Under 5s Free Family: (2 adults & 3 under 17s) 24.50 Find the latest ticket prices Reserve Tickets Now:

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Disabled Facilities
Most public areas are accessible for wheelchair-users, including the State Apartments. Visit website for more information

More Information
Telephone: 020 7766 7304 Email: bookinginfo@royalcollection.org.uk

Read more: http://www.tourist-information-uk.com/windsor-castle.htm#ixzz1nX2xC8Nz

Our aim is to help you find popular tourist attractions and places of interest throughout Great Britain including many castles, museums, art galleries, stately homes, royal palaces, zoos, gardens and theme parks in London, England, Scotland and Wales. We provide lots of useful information about the UK's favourite tourist attractions including pictures and photos, admission times, opening dates, ticket prices, location maps and contact information, to help you find things to see and do on your visit. We also have many guides for tourists visiting the UK from abroad, packed with information and advice on accommodation, travel advice and other useful information.

Read more: http://www.tourist-information-uk.com/#ixzz1nX4y2X1Y

London Weather
London and the South East have one of the mildest climates in the UK, but the weather can be unpredictable. Londoners get used to carrying both an umbrella and sunglasses to be prepared for all eventualities!

Summer Weather
Summer can be very pleasant with temperatures averaging 18C (64F) and often into the low 20s. In recent years London has experienced heatwaves with temperatures well above 30C (86F).

Spring and Autumn Weather

Spring and autumn see temperatures of around 11 to 15C (52 to 59F). Evenings are lighter for longer with the advent of British Summer Time at the end of March (until end October).

Winter Weather
Typical temperatures for winter are between 2 and 6C (36 to 43F). Temperatures don't often drop below freezing and snow isn't common although in December 2010 London experienced heavy snowfall and an army of snowmen popped up all over the city!

Rainfall in London

The number of rainy days (with more than 0.25mm of rainfall) is fairly consistent throughout the year, with between 11 and 15 rainy days every month. Overall rainfall is highest in November and August (64 mm and 59mm respectively) and is lowest in March and April (37mm each).

Activities

Britain at War Experience

64-66 Tooley Street, SE1 2TF
About Britain at War Experience

The Britain at War Experience is an ambitious project that attempts to recreate the intensity and atmosphere of Britain during the Blitz of World War II. The attention to detail is awe inspiring with lighting, pyrotechnics and sound used in conjunction with dust and debris to fully absorb visitors. You are invited to visit the shelters where thousand huddled together as bombs rained down upon their homes and businesses. An underground cinema plays wartime news reels. A BBC radio studio replays speeches from Winston Churchill, Lord Haw Haw and Hitler- illustrating the media battle that paralleled the physical battle abroad. A bomb disposal display has examples of real bombs that fell on London. A section showing the wartime stars of the silver screen and their contribution to the war effort through propaganda and morale boosting pictures can be seen. Rare documents, gas masks and all manner of artifacts from the period are used to recreate the atmosphere perfectly. The Britain at War Experience has been created to educate and inform all of the forgotten hardship of living in a country bombarded by a seemingly unstoppable enemy. There are many places to eat nearby and an extensive gift shop gives visitors the opportunity to buy books and mementos of this vivid and breathtaking experience.

About London Aquarium

The London Aquarium was first opened in 1997 and provides visitors with an opportunity to view the 3000 various types of marine life on view. The massive tanks are home to huge Sharks, Rays and all manner of other fish. Visitors are only separated from the thousands of tons of water by 9mm thick acrylic windows. The sea-water is actually London tap water that is treated and mixed with salts to make it habitable for the fish. The water is mixed 8 tons at a time. The London Aquarium has more than fifty separate displays- the largest of which hold one million liters of water! The Aquarium is situated on the bank of the Thames, next to Westminster Bridge. The nearest underground station is Waterloo.

The London Aquarium is set across three floors and attempts to recreate many water environments. Alongside the vast Pacific Ocean display is a smaller Tropical Rainforest environment, Coral reefs, Indian Ocean and a freshwater stream have all been simulated. The Aquarium hosts daily talks about the exhibits and feeding times are a highlight of the day. An adopt a fish scheme is also available and proceeds help to support the upkeep of the animals. The facilities are laid out in a very impressive arrangement and the feeling of being so close to the Sharks and Piranhas is fascinating- if a little frightening.

County Hall, Riverside Building, Bridge Road, SE1 7PB

About Clapham High Street at Night

Clapham High Street at Night

Clapham High Street, SW4

Though rather surprising as a popular night spot, given that it looks a little drab during the day, Clapham High Street has actually begun to pull in the crowds not just from the immediate area but also further afield, primarily we suspect because of the reputation that Suede has as one of the cheesiest clubs in London. The queues which now form outside the club each weekend are proof if you need it of the place's growing popularity. Clapham High Street has more to offer than just one club though. Stretching from Clapham North tube station right down to Clapham Common and beyond, there are restaurants and bars dotted all along. Our favourites include The Alexandra, just a stones throw from Clapham Common tube and is a big, cheery pub with something of the Irish pub feel to it try the Sunday night comedy offered in the upstairs bar; The Fine Line is always popular at the top end of the street, if a little predictible; The Kazbar further nearer to Clapham North is openly camp but very friendly (especically the bouncers who dress as fairies!); or there's The Railway just further down again a converted old pub with fabulous thai food. It's the vairety of tastes that are catered for which makes Clapham High Street so appealing. Unless you want the cheesy sounds of Suede, it's definitely more a place for good bars and good value food than it is for dancing.

Oxford Street and Tottenham Court Road at Night

Oxford Street, Tottenham Court Road, W1
About Oxford Street and Tottenham Court Road at Night

Along the backstreets and side streets of London's busiest daytime shopping thoroughfare, lie a miriad of clubs, bars, restaurants and cafes which spring into action at dusk. The Loop Bar and Havana at the top end near Bond Street are perfect for dancing the night away. The Loop offers this in cheesy contemporary style, whilst Havana takes you back to your latin roots with some fun salsa dancing. Be warned, both can get pretty busy, so get there before 9.30 to avoid having to queue. If you're after somewhere to eat beforehand, try the wonderful Rocket restaurant in the equally wonderful Lancashire Court; a quaint, cobbled courtyard off New Bond Street. This serves a great mixture of modern european foods and is very reasonably priced. With a great bar downstairs you could almost spend the whole evening here! How about a night at the casino? Barracuda casino at 1 Baker Street could be your ticket to earn your fortune! Well, maybe not but it's good for a fun and different night out. Remember though that you will have to phone in advance to become a member, though this is normally a very simple process. Towards Oxford Circus, you could try Market Place bar just off Oxford Circus at 11 Market Place. This is a great and relatively new bar with good quality 'nibbles' and a nice wooden, relaxing interior. It combines trendiness with genuinely friendly staff what a great find! Further down Milk and Honey on Poland Street has been getting some pretty good reviews of late. It's a members only club so you will have to call in advance, however once you do get in it has a unique atmosphere and very strict rules concerning behaviour, which means that everyone is courteous and polite. It's famous for its delicious cocktails made out of fresh ingredients which you sip whilst listening to jazz and swing music. Hidden away behind a black emergency exit, this is a little oasis of calm and civilisation away from the hustle and bustle of the city. 100 Club predictibly, is located at number 100 Oxford Street half way between Tottenham Court Road and Oxford Circus tubes stations. An established venue for live music, this club has something new to offer most nights of the week. Acts as diverse as the Sex Pistols, Sinead O'Conner, Travis and The White Stripes have performed there.

Upper Street at Night

Upper Street, N1
Between the start of Upper Street at Angel Tube station all the way up to Highbury and Islington tube station, there are nearly 100 bars, restaurants and pubs. With such a variety to choose from there's no doubt at all that there will be something that is a perfect match for your tastes on any given evening. Upper Street is the hub of Islington and is where most of the social activity in the area is centered. As one would expect, many of the places on offer are the big chains which feature all across the capital, indeed the country; The Walkabout pub, the Pitcher and Piano and O'Neils to name just a few. Though it is a fast-growing chain, Strada which is located at 105-106 Upper Street still remains one of our favourites offering very tasty pizzas at good prices. If you want to try something a little different, wander into Matt & Matt (112 Upper Street) which combines good DJ's and cocktails making it a real hit with the locals or The Duke of Cambridge (30 St Peter's Street) which is a wholesome pub (if there is such a thing) serving quality beers which are organic in origin as is the food served there. For good restaurants which avoid the chains, how about the romantic, french, Le Mercury (140a Upper Street) or Granita (127 Upper Street) which provides good quality modern european food which is pretty trendy amongst the locals.

About County Hall Gallery

The County Hall Gallery (which until recently was home to the Saatchi Gallery) comprises three major gallery spaces, which includes the impressive, permanent Dal Universe exhibition. County Hall Gallery's intention is to transcends traditional ideas of a modern art gallery (which can get a bad press at times) to present popular exhibitions, create memorable experiences and nurture modern art.

Royal Academy of Arts

Burlington House, Piccadilly, W1J 0BD
About Royal Academy of Arts

The Royal Academy of Art was founded in 1768 to promote the fine Arts in Britain. Sir Joshua Reynolds was appointed the first president. The Royal Academy of Art moved to Somerset House in 1780 and held an annual exhibition for living artists, the first such exhibition in England. The Academy moved to Burlington Road in 1868 and in the following years studios, a lecture hall and thirteen galleries were added. In 1983 the galleries and much on the lower floor was extensively restored. The diploma galleries were converted in 1991by Norman Foster- the new area is known as the Sackler Wing. The temporary shows exhibited at the RA are the most popular of any gallery in the UK. This means that visitors are required to purchase time allocated tickets in advance for exhibits. The RA generally has two separate exhibitions running at any one time, one in the Sackler Wing and another in the main exhibition hall. Annually the Royal Academy of Arts hosts a Summer Exhibition. The summer exhibition is open to any artist whose work can be safely displayed within the building. There can be as many as a thousand pieces of Art on display during the summer exhibition. The RA runs free lunchtime tours and also boasts an extensive permanent collection including pieces by Michelangelo, Gainsborough and David Hockney.

Equitacin

Welcome to Mount Mascal Stables Horsemanship for All

Mount Mascal Stables is a large and modern equestrian facility with a track record of success and growth. Established in 1966 by the Window family who continue to own and run the business. Our motto is Horsemanship for All (H4A). We want to share the fun, interest and excitement of our sport with you. Regardless of your age, ability, background or circumstance. We are proud to deliver professional riding school and livery services. Our aim is to help you to achieve your personal goals. We are fully approved and accredited by our professional governing bodies and local council. We are proud of our long-standing reputation for excellence and service within our industry and community and we look forward to welcoming you to Mount Mascal Stables. We are open seven days a week throughout the year, except Christmas & Boxing Day when there are no riding school lessons.
Golf

WELCOME TO THE WEBSITE OF RICHMOND PARK GOLF CLUB, LONDON UK

Founded in 1924 and set amidst the history and splendour of London's largest Royal Park, Richmond Park Golf Club is one of the finest and open of golf clubs playing in a public facility. The aim of the club is to bring all our members together in competitive golf and social functions in as pleasant and friendly an atmosphere as possible. Membership opportunities are always available to like-minded individuals. Please explore these pages to learn about our friendly club, see how we operate and keep abreast of the latest club activities and competition results. For an overview of the clubclick here. Otherwise select one of the links to the left to navigate.

Affordability of housing in the United Kingdom

From Wikipedia, the free encyclopedia

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The affordability of housing in the United Kingdom deteriorated significantly from the late 1990s onwards, [1]with house prices rising faster than earnings and the average age of first-time homebuyers increasing. The issue of housing supply and affordability was recognised as a social, economic and political problem and generated a number of Government responses.[2

Growth of house prices

UK house prices 1975-2009 (adjusted for inflation). Source: Nationwide Building Society

As recently as the mid 1970s, the average house price in the United Kingdom was just over 10,000. A steady increase followed over the next decade, and by 1986 that figure was in the region of 40,000. However, the economic upturn of the late 1980s saw that figure rise to around [3] 70,000 in 1989, dropping slightly in the early 1990s due to the recession. However, between 1998 and 2007 house prices in the United Kingdom rose dramatically, generating large increases inhome equity for many homeowners but also making housing [4] unaffordable for other people. Most developed countries experienced sharp increases in house prices in the early years of the new millennium. The UK situation was different in two regards. First, the house price boom started earlier and saw more sustained increases. Second, the regional [4] pattern was fairly uniform. Between 2002 and 2007, house prices in the UK rose by 90%, faster [5] than any Eurozone nation except Spain. The average (mix-adjusted) house price in the first quarter of 1998 was 81,722, but at the peak of the market in the third quarter of 2007 the average price was 219,256 over two and a half times [4] higher or a total increase of 168%. Between the first quarter of 2001 and the fourth quarter of 2006 prices increased 60%, again when adjusted for inflation (figures from the Nationwide Building [6] Society's house price data ). House prices at the end of 2006 were 35% higher than they would have been if the long-term trend rate of growth - 2.6% per annum in real terms since 1976 - had been maintained. In 2008, house prices started to fall but they have stabilised as of August [4] 2009. This may reflect the housing market's normal seasonality or it may indicate a genuine [4] [7] recovery. Some analysts now expect UK house prices to contract by 50% in real terms. Adam Slater, senior economist at Oxford Economics has forecast that "it will take quite a few years, [8] possibly a decade, before real house prices get back to their peak levels. The increase in the house prices has made the housing market increasingly difficult to enter. The ratio of lower-quartile house prices to lower-quartile earnings, a measure of affordability used in

theBarker Review of Housing Supply, rose from 4 in 2000 to 5.2 in 2003 and 7.1 in 2006. At a regional level, the problem of unaffordable housing is no longer confined to London and the South [9] East, but now affects almost the whole of England. In July 2009 the ratio of house prices to first[10] time buyers' incomes remained higher than the historical average. [edit]Mortgage

[9]

lending

During the period 2001-2007, many lenders began offering loans of increasing multiples of [11] income sometimes to people with poor credit ratings; products that did not require a deposit became more common- 125% mortgage products appeared. The high rate of lending may have been exacerbated by the buy-to-let phenomenon. In the 1990s the Buy-to-Let market accounted for about 1% of loans taken out for the purposes of buying a house. In 2006, the 330,000 buy-to[12] let mortgages that were taken out accounted for 9% of outstanding home loans. Although mortgages were more widely available, the rise in house prices meant that there was less [13] affordable housing available to people on low incomes. The Joseph Rowntree Foundation reported what it called "alarming trends in housing supply, availability and [14] affordability". In 2003, the British Government commissioned a report on the lack of supply in the housing market. The Barker Report on housing supply concluded that it was necessary to build an additional 70,000 houses per year to reduce the real price rise to 1.8% per annum. An additional 120,000 houses per annum was required to reduce long term house price inflation to the EU average of 1.1%. The government commissioned a further report by Professor David Miles of Imperial College on the mortgage market. Among its recommendations was that Building Societies should obtain more mortgage funds from the money market in order to increase the availability of [15] mortgages. The Barker report had also concluded that an additional 39,000 houses per annum were required [16] for UK house building to match household formation. Barker was quoted as saying there were [17] only a net 134,000 new houses for more than 179,000 household formations per year. The figure [18] of 134,000 built in 2002 was contradicted by the National House-Builder Council which reported that there were 160,800 houses built in 2002. In 2006 they report 185,000 new builds, which is above the original Barker report estimate of 179,000 household formations a year. In the 1990s, an average of 158,910 houses were built each year (NHBC figures) against 172,000 for each of the five years to 2006. Increased divorce rate is another often quoted reason for increasing house prices, but this metric [19] peaked in 1993 - a year of static or falling prices. The reduced availability of inter-bank lending had a severe effect on companies such as Northern Rock which had financed an aggressive expansion of mortgage lending by short term borrowing in [20] the money market. [edit]Barker

Report

See also: Barker Review of Housing Supply In Budget 2003, the Government asked Kate Barker, a member of the Monetary Policy Committee, to undertake a review of housing supply in the UK. Barkers interim report was published on 10 December 2003. She found that the number of houses being built in the UK was not keeping pace with demand. In 2001, around 175,000 dwellings were built in the UK the lowest level since the

Second World War. Over the prior 30 years, UK house prices went up by 2.4% a year in real terms compared to the European average of 1.1%. As a result of these price rises first-time buyers in 2001 paid on average 32,000 more for their homes. In 2002, only 37% of new households in [21] England could afford to buy a house, compared to 46% in the late 1980s. Barker considered a range of factors that might be constraining the supply of housing in the UK. She identified the main constraint as land supply and the housebuilding industry's response to risk, which leads to reluctance to build out large sites quickly. The regulatory relationship and control [21] over the use of land also influences the way in which land is made available for development. The Barker Reviews final report set out a range of policy recommendations for improving the [22] functioning of the housing market: Government should set out a goal for improved market affordability; additional investment to deliver additional social housing; a Planning-gain Supplement to ensure that local communities share in the value of development; a Regional Planning Executive to provide advice on the scale and distribution of housing required; allocation of additional land in Local Development Frameworks; a Community Infrastructure Fund to help to unlock barriers to development; and Local authorities should be allowed to keep the council tax receipts from new housing developments for a period of time.

In response to the issue of housing affordability highlighted in the Barker Report the Department for Communities and Local Government created a non-departmental public body, the National Housing and Planning Advice Unit, to provide advice to the Government, Regional Assemblies and other [23] stakeholders. The Unit's initial report, Affordability Matters (published in June 2007) argued that there are strong reasons to promote affordability - deteriorating affordability is associated with house price volatility, the diversion of investment from more productive areas of the economy, [9] reduced labour market flexibility, and a poorer standard of living for young people.