Land prices and viability assessments 2

Meeting: 
MQT on 2015-10-21
Session date: 
October 21, 2015
Reference: 
2015/3349
Question By: 
Nicky Gavron
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Following the inspector's decision regarding the importance of the price paid for land in determining affordable housing contributions, will you update your guidance in the final Housing SPG to note that paying over-inflated prices for land is not an excuse for developers to avoid affordable housing requirements?

Answer

Answer for Land prices and viability assessments 2

Answer for Land prices and viability assessments 2

Answered By: 
The Mayor

My draft interim Housing Supplementary Planning Guidance is already clear that the Existing Use Value Plus approach generally provides the most appropriate Benchmark Land Value in viability discussions and supports this approach.

My officers are considering the consultation responses to the draft SPG and further guidance may be included to ensure that if Market Value is used as a benchmark it fully reflects policy requirements and obligations - as set out in National Planning Policy Guidance (NPPG).