But the market works only when demand brings forth supply, people have plenty of choice and providers are therefore under pressure to improve quality. That’s not the case in housing.
There’s little pressure on landlords because people don’t have much choice about where to live. Try renting a flat these days: you’ll be lucky to get a viewing. Try buying a house — or, to be honest, don’t even bother calling the mortgage company unless you have parents who can provide you with a deposit.
The chokehold is the State refusing to allow planning permissions. That’s why supply is not expanding and why prices are rising.
Solve that problem and you’ve solved it all. Aka, kill the Nimbys.