Submitted on Sunday 24th September 2017
Published on Friday 29th September 2017
Current status: Closed
Closed: Thursday 29th March 2018
Signatures: 37
Affordable homes: amend law on new builds, compulsory purchases & shared schemes
Current law allows developers to build unaffordable homes (£175-£200k more for an area) on communal lands and on homes taken by compulsory purchases. Displaced residents are given less money than needed to relocate locally. Developers are still able to own sold homes via shared ownership schemes.
Change the rules of compulsory purchases to ensure displaced residents get replacement values (not market value) plus 10%
Require homes built on communal land or compulsory purchased homes to be no more than 110% of the market value for older homes.
Ban shared ownership schemes if the price is more than 110% of the market value of older properties. New build homes are escalating housing inflation with their pricing which is underpinned by shared ownership schemes.
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