Co-operative housing. The way forward?
Green London Assembly member Jenny Jones has today launched an excellent report: Bringing Affordable Housing Home (*pdf), which suggests that co-operative housing could be the way forward in generating more affordable housing for those priced out.
She also points out how much shared-ownership housing - where you buy some of the property and rent the rest - doesn't end up being that affordable. Nor has the private sector, which was at the heart of current plans, delivered enough housing to satisfy demand.
She suggests instead that housing co-operatives could be the way forward. Co-operative home ownership models, such as community land trusts, are where the home owner does not buy the land the property is built on. The co-operative instead leases the land to the home owners. Because land generally increases in value faster than the housing it contains, this would reduce the cost of the home for the next buyer.
There are also wider benefits of co-operative housing which I highlighted in my Thought for the Day on Radio 4 three years ago.
You can watch Jenny talk about the report here:
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