Community Land Trusts (CLTs) provide genuinely and permanently affordable homes, so that people are no longer priced out of the neighbourhoods they call home.
Genuinely and Permanently Affordable Homes
Our CLT homes are priced according to local earnings, ensuring that people are no longer priced out of the neighbourhood they grew up in. ‘Local earnings’ are taken as the average of median incomes using data published by the Office for National Statistics in November each year.
At St Clements, this means that a 1 bed property will be £130,000, a 2 bed will be £182,000 and a 3 bed will be £235,000, approximately one third of the open market value of the homes.
CLT homes are about providing people with a home, not just an asset. The contract signed upon moving in makes sure that all residents have to sell the home to the next household again at a price according to local earnings. This means the homes can be sold on again at a similarly affordable level every time a new family moves in.
Run by local people
London CLT is a democratic membership organisation that anyone who lives in London can join. The board, elected by the membership, has one third each of resident representatives, local community representatives and stakeholder representatives that have the expertise the CLT needs to do its job well.
For more information about CLTs and how to set one up, please contact the National CLT Network at firstname.lastname@example.org