Landowners 'willing to sell low for affordable homes'

Altruistic landowners are often willing to sell plots of land for building at discount prices if the result will be more affordable homes, new research has found.

A study by the Royal Institution of Chartered Surveyors (Rics) has shown that 40 per cent of landowners would be happy to sell at less than the market value if such pledges were made concerning the dwellings subsequently constructed.

Some stated that this should also include priority being given to family, staff, agricultural workers and local people.

In such circumstances, those thinking of using the self build method to acquire a home at an affordable cost may be able to obtain local land for this purpose at a lower than normal price.

Many parts of the country have been shown to lack affordability.

The worst-hit regions in this respect are London and the south-west of England, where 40 per cent of young households (age 21 to 40) are excluded because of housing costs, a University of York study for Hometrack revealed this week.