Britain should adopt European style mortgages that offer fixed rates over the whole term, according to a new report.

The review of housing in England and Wales, published today by the Royal Institution of Chartered Surveyors, also said the UK should make greater use of tax measures to control the unease caused by rising house prices.

Forum Response: Royal Institution of Chartered Surveyors

Michael Newey, chair of the housing policy panel at RICS, told ePolitix.com: "It is ten years since RICS last looked in detail housing. The fact that the homes which will be around at the end of this century have already probably been built says much about present housing policy.

"Suffering the regular price swings and turmoil of the housing market, throwing good money after bad, keeping housing going which is well past its sell-by date, and ineffectively planning must be stopped. This manifesto makes the radical recommendations which we believe are needed to give the country stability in the market and the type of housing suited to future demands.

'Without these changes UK housing will continue to perform badly, remain volatile and fail to meet needs. Society has moved on; the housing market must do the same."