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Totally agree, too many components to both supply and demand that it’s hard to talk about in simplistic terms (apologies if my comment was a bit reductive).
@Hefty, this always seems to be in the news during housing downturns, but private sector new and net developments have been strangely consistent for the best part of 50-60 years, with housing inflation totally outstripping any change in development numbers.
Housing being one of those wicked problems, it’s hard to talk about only a small slice of it without it bleeding into too many subjects…
slippers
It's advantageous to build dwellings when the market price of dwellings exceeds the costs of land and construction; as far as I can tell this is always or nearly always the case in UK, some planning restriction related abnormalities excepted.
This doesn't fix affordability or even satisfy overall demand.
Demand is also skewed by a whole load of things including investment (i.e. demand) from parties outside of the local economy in which the supply is realised.
tl/dr: supply and demand is mainly a myth imo.
Edit: @NickCJ said it already.