The UK government plans to release public land for house building to help alleviate the nation’s chronic shortage of residential properties.
From this autumn every government department with significant land banks will publish plans to release thousands of acres of previously developed land to house builders to build up to 100,000 new homes and create 25,000 jobs by 2015.
The Public Expenditure Committee, a Cabinet Committee chaired by Francis Maude, will go through each department's plans with a fine tooth comb, to make sure every possible site is made available for house building.
(Via Property Wire. To read the full story, click here)
PropertySCAM comment: This would appear to solve the immediate shortage of development land without any need to tap into privately owned land banks. Land banking now looks less viable than ever before as a personal investment vehicle.