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Affordable Housing

Sunday, 16 June 2019 22:49

Are these Really affordable? Are these Really affordable? Anne Henshaw

Frequently it is the wrong causes which are blamed for the cost and scarcity of housing.  (Immigration, population growth, the green belt, red tape)
In reality the main underlying issue is land.

Its ownership and control by a small number of people gives rise to distortions every day. Homes have become so expensive not because the price of bricks and mortar has risen, but because the land that underlies them now accounts for 70% of their price.

Successive governments have used tax exemptions and other financial advantages to turn land into a speculative money machine. Landowners and building companies, and the vast shift in bank lending towards the housing sector have inflated prices so much that even a massive housebuilding programme would struggle to counteract them. Worse still, when planning permission is granted on agricultural land, its value can rise 250-fold.

This issue needs to be put at the heart of political debate and discussion. New public development corporations, alongside local authorities, could assemble the land needed for affordable homes and new communities.

To read more on this download CPRE's briefing, below.

 

 

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