Advertisement
Housing

Government commits £240 million to community-led housing

Community land trusts (CLTs) will get the chance build thousands of genuinely affordable homes as the housing minister sets up new fund

The radical community  groups changing the way housing developments are done have received a massive boost: £240 million of new funding from the government.

The Big Issue has championed the work of community land trusts (CLTs), organisations that have been able to create genuinely affordable housing built or refurbished across the UK.

Housing minister Alok Sharma said CLTs and other co-operative housing groups would be able to apply to a new Community Housing Fund from January 2018.

Sharma said “we want to build more of the right homes, in the right places, at the right prices. And I believe that community-led housing has a huge role to play in helping us to do just that.”

If a CLT can obtain land or secure a long-term lease on a site, it can dictate the terms of the rent, or insist on sale conditions for new homes. While the model usually restricts the resident from making a profit when moving on, it also ensures the asset remains affordable for future residents.

The London Community Land Trust, for instance, worked with development partners to obtain 23 new home for sale on the old St Clements hospital site in Bow (illustrated above).

Advertisement
Advertisement

The homes have been sold at roughly one third of market value after the CLT decided to link house prices to local earnings.

It is an opportunity to grow the community-led housing movement from hundreds of communities building homes, to thousands

Baroness Bakewell, chair of the National Community Land Trust Network, said she was “delighted” the government has decided to commit £60 million a year to the sector over the next four years.

She said it was “an opportunity to grow the community-led housing movement from hundreds of communities building homes, to thousands, and build a proper market for the sector.”

Nic Bliss, head of policy at the Confederation of Co-operative Housing, described the announcement as “a massive and potentially paradigm-shifting opportunity for our sector to develop.”

Advertisement

Bigger Issues need bigger solutions

Big Issue Group is creating new solutions through enterprise to unlock opportunities for the 14.5 million people living in poverty to earn, learn and thrive. Big Issue Group brings together our media and investment initiatives as well as a diverse and pioneering range of new solutions, all of which aim to dismantle poverty by creating opportunity. Learn how you can change lives today.

Recommended for you

Read All
Number of tenants being evicted by landlords for rent arrears is highest since records began
Renting

Number of tenants being evicted by landlords for rent arrears is highest since records began

Over 1,300 Ukraine refugees have faced homelessness since arriving in England
Housing

Over 1,300 Ukraine refugees have faced homelessness since arriving in England

Sadiq Khan's Right to Buy-back scheme leads to return of 1,500 council homes
Right to Buy

Sadiq Khan's Right to Buy-back scheme leads to return of 1,500 council homes

This evaporating pavement art is highlighting how heatwaves are a threat to rough sleepers
UK HEATWAVE

This evaporating pavement art is highlighting how heatwaves are a threat to rough sleepers

Most Popular

Read All
All the places where kids can eat free during the summer holidays
1.

All the places where kids can eat free during the summer holidays

This Twitter bot is exposing celebrities taking three-minute private jet flights
2.

This Twitter bot is exposing celebrities taking three-minute private jet flights

Will free school meals and vouchers be offered over the summer holidays?
3.

Will free school meals and vouchers be offered over the summer holidays?

Estate agents caught saying they don't rent homes to people on benefits
4.

Estate agents caught saying they don't rent homes to people on benefits

Keep up to date with the Big Issue. The leading voice on life, politics, culture and social activism direct to your inbox.