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Rental News

Rental News

Landowners willing to take loss for the community

09 / Jun / 08

Nearly half of all landowners would sell their property at below market value if they felt it was for the good of the community.

According to research from the Royal Institution of Chartered Surveyors (Rics), some 40 per cent of clients - farmers and landowners - would put forward land for affordable rural housing.

They would also be more likely to sell if the buyer is a housing association or community trust.

However, Rics clients were least likely to sell to a local authority and many would ignore encouragement to sell from local government.

"Many landowners are willing to sell land for reduced prices to build affordable housing but want reassurance that it is the local community that will benefit," said Rics spokesperson, James Rowlands.

"Guarantees must be put in place by government to ensure that the generosity of landowners benefits young people, farm workers and other groups who are struggling to afford to live in rural areas close to work, friends and family.

"Restrictions must be put in place through the planning system to keep affordable homes for these groups, rather than allowing them to simply be sold through the general housing market."