The commission made an appeal to all RICS members and to the property sector to submit their practical initiatives that would boost home building across the UK. The invitation to pitch suggestion extends to the property profession, the not for profit housing sector, investors, developers, stakeholders and public interest bodies.

By tapping into the knowledge from across various real estate sectors, RICS thinks it will approach housing delivery from a holistic perspective which will help better understand how each segment of the industry impacts the others. The commission will address issues such as affordable hosing, improving stock quality, regulation, land availability, and investment in the rental sector.

Michael Newey, RICS president elect, will be chairman of the commission which will publish its recommendations in June 2013.

‘Since the recession first began there has been a great deal of discussion as to what should and shouldn’t be done to get housing supply moving again. With the country well and truly in the grips of an economic downturn it is vital that the market is kept as buoyant and active as possible. This begins with boosting housing supply across the country in areas where it’s needed,’ said Newey. ‘We are looking for input and from our members and those in the wider property sector to contribute and offer their thoughts and advice on initiatives and proposals that can help boost housing supply across the UK. We’re also interested in hearing from those in the not for profit housing sector, investors, developers, stakeholders and public interest bodies.’

The report on the commission’s finding will also be sent to the UK Housing Minister and the Shadow Housing Minister in hopes it will fuel new policies that will address UK’s housing crisis in the short term, as well as manifesto commitments for the 2015 election.Oral evidence sessions will take place from Monday 04 March. Sessions are open to both RICS members and non-members.

The slower rise of prices will be the consequence of new rules on bank loan reserves are introduced, directly affecting mortgage lending, Norwegian realtor association NEF and real estate agency body EFF said.

“Underlying market conditions would warrant an increase of 8-10 percent in 2013 but we expect that measures from the government will lead to higher mortgage (loan) rates and thus lower property price growth,” Leif Laugen, the deputy head of EFF told a news conference.

Powered by high immigration and the thriving economy, the Norwegian real estate market has boomed in 2012, the central bank avoiding to raise borrowing costs. Thus the price surge has to be handled by the government. Their solutions were cutting the maximum loan-to -value rate for new housing loans to 85% (previously 90%) in 2012 and asking the central bank to increase the minimum capital buffer on lender’s mortgage accounts in 2013.

“High activity, strong confidence indicators and low interest rates have resulted in great demand and pressure on housing prices,” Laugen said.

With a tremendous spike in both prices and house hold levels, experts warn that Norway is running the risk of a housing bubble.

“These factors could indeed result in a bubble in the future but I’m not saying we have a bubble right now,” Laugen said.

While the Norwegian crown has reached an all-time high agaisnt the euro, the currency might soar as soon as March, according to the Norges Bank, resulting in a slow the pace of economic growth. However, Norway’s economy is likely to expand by about 3% in 2013, while the rest of Europe is more likely headed for recession.

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