Landowners ‘pocket £13bn a year’

Landowners in England made £13bn in 2017 just through obtaining planning permission, more than the global profits of Amazon, McDonald’s and Coca Cola combined.  According to research published by the National Housing Federation and carried out by the Centre for Progressive Policy, farmland increased in value by 275 times on average last year when planning was granted.  In 2014-15, landowners’ profit was £9bn, while gaining planning permission increased the value of farmland by around 100 times. The NHF and CPP are calling on the government to change the law to allow public bodies to capture the land value increase that comes when planning permission is granted.  They say such a move could fund 100,000 affordable homes every year, alongside infrastructure that could help bring down the government’s £25bn housing benefit bill. The research being released on the day of the National Housing Federation’s Housing Summit.   To send feedback, e-mail alex.peace@egi.co.uk or tweet @EGAlexPeace or @estatesgazette