The UK is land rich. More than half of the UK’s value comes from land: £5 trillion. And understanding rising land values helps explain why the UK housing market has seen such strong growth in house prices in recent years.
The sums are in and on the open market, the UK would fetch £9.8 trillion. That’s what the Office for National Statistics has revealed in its latest report on the National Balance Sheet.
“The growth [in a value of land] since 2012 has been staggering, up to 2016. There are likely to be a range of factors driving this, but Help to Buy was introduced in 2013,” – Bentley adds
Bentley and other experts agree that the problem is not building houses, and it is not finding the right places to build them. It is not even necessarily the UK’s creaking infrastructure: it is finding the money needed to buy land in the right place, and still then making the purchase price affordable for most buyers