Labour Progresses Plans To Take ‘Land Profiteering’ Out Of The Housing Market

Labour is progressing plans to take “land profiteering” out of the housing market with a new agency specifically set up to let councils and developers buy sites cheaply from private owners to boost low-cost homes. Through a change in law, the proposed Sovereign Land Trust (SLT) – unveiled by shadow housing secretary John Healey last year – would buy agricultural land at “near current-use value” rather than the inflated prices it sells for when earmarked for development. The new trust would have the potential to purchase non-green belt land on the edge of cities and parcel it out for development to councils and housing associations. Read more on 24housing.

https://www.24housing.co.uk/news/labour-progresses-plans-to-take-land-profiteering-out-of-the-housing-market/