From New Start regeneration magazine 25 May 2007

Watchdog tells government to focus on more than just homes:

The government has been told its flagship policy for sustainable
communities puts too much emphasis on housing and not enough on economic
development to regenerate rundown areas. .... The Sustainable
Development Commission (SDC) said there was a "perverse incentive" for
the housing market to opt for new homes rather than refurbishing older
ones building new homes meant that the developer could avoid VAT which
would have been payable on a refurbishment of an older property.