These two blogs explain some of the thinking in the proposed revised National Planning Framework – especially those related to the valuation of land. Well worth a read – including for confirmation that the private housing market has never delivered the homes we need, the necessary role of local councils in housing provision and Labour’s proposals including this.
“Under proposals drawn up by John Healey, the shadow housing secretary, the 1961 Land Compensation Act would be amended to specifically exclude hope value arising from the potential for future planning consent. He suggests that would cut the cost of building 100,000 council houses a year by almost £10 billion to around £16 billion. “Rather than letting private landowners benefit from this windfall gain – and making everyone else pay for it – enabling public acquisition of land at nearer pre-planning-permission value would mean cheaper land which could help fund cheaper housing.”
Part 1 of this two part post can be seen here.
By Dave Treanor
How much of the profits arising from public investment and planning decisions should go into the pockets of landowners and how much should be captured for the benefit of the community? Parliament held an inquiry into Land Value Capture as part of its consultation on changes to the National Planning Policy Framework (NPPF), the new version of which has just been published. (Note 1)
This paper is the second in a series on the issues being examined by the Inquiry, looking at the impact of ‘hope value’ arising from potential future uses of a site on compensation for compulsory purchase. Part 1 examined the effectiveness of s106 and CIL.
In the thirty years following the war the majority of new homes were built by the public sector. By the mid-fifties the UK was building…
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