The price of land is a huge barrier to house-building, by councils or developers. Lease to individuals, and the equation changes
Lord Porter, the chairman of the Local Government Association, has proposed to “set forth a million builders” by giving residents a role in the design and construction of council-built homes. It’s the latest sign of a radical common sense that is slowly making its way into housing policy, but if government truly wants to unlock the “citizen sector”, there’s an easier way.
Slowly, all the political parties are now waking up to the realisation that private developers will never build the number or quality of homes that Britain needs. This is not because developers are just greedy or immoral – it’s because their business model is perfectly designed to make sure they have no incentive to do so. No amount of subsidy or regulation will change that.
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