New powers for councils to help build more affordable homes

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Councils across the country will be able to buy cheaper land to help build thousands more social and affordable homes, thanks to new Government reforms coming into force as part of the long-term plan for housing.

Councils will be able to buy land for development through the use of Compulsory Purchase Orders without paying inflated ‘hope value’ costs. ‘Hope value’ estimates the cost land could be worth if it was developed on in the future, meaning councils are forced to pay potentially thousands more to buy land for housing or developments and get stuck in lengthy disputes about costs.

The new measures will remove hope value in certain circumstances where Compulsory Purchase Orders are being used and make it cheaper and easier for councils to transform communities by building new

 link source - Construction Media

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