Housebuilders this week told the government that better regulation of mortgages alone would not be enough to stop the cycle of boom and bust in the housing market

Responding to the publication of the Turner report on financial regulation, Stewart Baseley, executive chairman of the Home Builders Federation, said the cycle could only be avoided if there was a way to increase land supply, which would allow an increase in production.

He said: 鈥淭he long-term solution to escalating prices is to ensure there are enough homes to meet demand. If the Financial Services Authority and the government go down the route of mortgage control to try to head off future asset bubbles, they are likely to entrench and worsen future housing under-supply.鈥�

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