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Business Daily: The homes only locals can buy

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The homes only locals can buy

01/05/2023 GMT

BBC World Service - Business Daily, The homes only locals can buy

Londoners are moving in thanks to a ownership scheme which started in the US in the 1960s

We meet the Londoners moving into their first flats thanks to a ownership scheme which started in the US in the 1960s.

Community land trust properties can only be bought by local people, and the price is set by average local income levels, not the open market. Dougal Shaw goes to a block of flats in Lewisham where buyers are just settling in. 

He speaks to a lawyer and community activist in the US – the idea started as part of the civil rights movement. And a property expert explains some of the potential long-term issues.

Presenter/producer: Dougal Shaw

(Image: Christian Codjoe is moving into a two-bed flat in Citizens House with his brother. Credit: BBC)

(Image: Artists impression of the flats. Credit: French & Tie)

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