Volatile house prices have generated considerable interest in embedding market signals in housing planning. In England, Strategic Housing Market Assessments (SHMAs) were introduced in 2004. This article reflects on their evolution and considers lessons for policymakers in the UK and elsewhere. Despite broad consensus that SHMAs have enhanced the evidence base, key questions remain about their effectiveness. Based on a review of a sample of SHMAs and in-depth interviews with stakeholders, we highlight three areas for attention: conceptual weaknesses; technical and methodological issues; and the use of SHMAs in policy. These provide lessons for market assessment procedures.
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