Do you know about - Uk Land ownership - Concentrated in the Hands of the Few
Progressive Home Insurance! Again, for I know. Ready to share new things that are useful. You and your friends.Buying land for land investment purposes has permeated the national consciousness, but owning English land remains a privilege, writes Alex Way.
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There can be itsybitsy doubt that the rate of residential property amelioration on Uk land is set to rise markedly in the next ten to fifteen years. Yet the Government's house-building plans - 3 million new homes on Uk land by 2020 or 250,000 per annum for the next twelve years - are manifestly ambitious, given house-building levels are currently running at around 165,000 per year. The Government proposes that one million new homes can in fact be accommodated on 'Brownfield' English land, although many commentators ask whether there is enough viable amelioration land classified as 'Brownfield' for this proposal to be realistic. The implication then, although the Government is loath to admit it, is that property amelioration on some Greenbelt Uk land is inevitable.
It is not that Uk land amelioration is not sufficiently lucrative for property amelioration firms which explains why too few homes are currently being built on English land. It is more the fact that the Uk land planning ideas is highly restrictive and that the supply of amelioration land is controlled by a very small group of Uk land owners. The first barrier to increased house-building - the Uk land planning ideas - has in many respects been addressed. To ensure that parochial objections (ie those typically raised by 'middle-class Nimbys') do not inhibit the issue of Uk land for property amelioration purposes, regional land planning bodies have been inaugurated by the Government that set housing targets, to which local councils must adhere.
The inexorable decline of the British aristocratic class was widely reported in 1990s: antique contents (objects, not people) of crumbling stately homes were being sold-off in order to repair and claim the house pile. A scandal arresting a lord and an guarnatee fraud was maybe the least edifying spectacle, although the pained expressions on the faces of Britain's noble elite as the hoi polloi traipsed straight through their once secret homes and on their land made for, at times, uncomfortable viewing. However, to infer that Uk land ownership in the twenty-first century is spread evenly surrounded by the masses as a result of the decline of aristocracy would be a huge mistake.
In his book, 'Who Owns Britain' (2001), Kevin Cahill takes a long, hard look at Uk land ownership. His findings surprised many: the Royal house for instance owns Uk land equivalent to an average-sized county. Just six thousand population own two-thirds of the entire supply of Uk land - forty million of the sixty million acres of Uk land are owned by a clique comprised of the Crown, aristocrats and a few institutions.
Or, put someone else way, 70% of Uk land is owned by 1% of the population. Some might say the extent of the attention of Uk land ownership is feudal-like, or at least unhealthy in a progressive, modern, liberal democracy with a dense and rapidly increasing population.
Cahill then goes on to put in context these figures on the degree to which owning Uk land is a privilege. The British population - circa 60 million - is housed in 24 million dwellings, which sit on just 4.4 million acres (which is equal to 7.7% of the Uk land supply). Justunder 4/5ths of these 60 million residents live on 3.5 million acres, or 5.8% of the total supply of Uk land. It is also surprising many that only 8% of Uk land has been developed. That of policy is not to say that the Uk has 92% capacity for new homes: a large proportion of Uk land is undevelopable due to the prevailing local environment.
What does all this mean then for whatever inspecting investing in land? It is not by any means difficult to buy land, but there is not, relatively speaking, that much Uk land available (as the bulk of it tends to remain with one owner rather than being actively traded). Actually there has been a rise in the availability of land for sale as investment land in new years, so the option for the investor buying land has widened. But land investment remains a minority sport, from which a few reap spectacular rewards.
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