The key to solving the housing crisis lies in the land beneath our feet. Over recent decades, the UK has experienced massive land price inflation. Though once thought of as an engine for growth and regeneration, we are now realising that the opposite is true: high land prices put a huge burden on society and the real economy, they stifle investment and block the construction of the homes we need. The problem is, they are incredibly hard to climb down from.
Affordable Land (or ‘Community Land’) is a form of leasehold that precludes speculation, and so allows councils to license land as a low-cost platform for society and the economy, instead of simply selling it to land traders. It requires no government borrowing, no new legislation and it can exist alongside the existing property market.
In effect, it creates a new form of home ownership, unlocking prosperity and wellbeing by liberating citizens, communities and businesses from the burden of economic rent and the self-defeating stranglehold of land speculation.
Authors Alastair Parvin, Open Systems Lab
Andy Reeve, DemoDev
Download this white paper as a PDF here.
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