A taskforce that will look at ways to end the cycle of boom and bust in the housing market, was launched today [22 July] by the Joseph Rowntree Foundation (JRF).

Bringing together some of the UK's leading housing and economics experts, including Professor Elaine Kempson from the University’s Personal Finance Research Centre (PFRC), the Housing Market Taskforce will look at ways to resolve the root causes of instability in the housing market that have led to the current damaging cyclical pattern of boom and bust. It will deliver its recommendations in 2010.

The other members of the Taskforce are Julia Unwin, chief executive of JRF; Kate Barker, author of The Barker Review of Housing Supply; Dr Peter Williams, a consultant on housing markets and housing policy; and Keith Exford, ceo of the Affinity Sutton Group.

Julia Unwin of JRF said:

‘There is no better time to grapple with the fundamental questions surrounding our housing market model. Have we over-promoted home ownership? Are there credible alternatives in the rented sectors? What is an acceptable level of consumer risk? It is vital that we establish a long-term vision for the housing market that is both sustainable and just.’

Professor Kempson added:

‘ I was very pleased to be asked to join the Taskforce. Much of our research at PFRC has focused on consumer vulnerability and financial risk, particularly in relation to low-income households, and I look forward to bringing this to bear in my role as a member of the Taskforce.’

For more on this story, please see the JRF website.