London Community Land Trust
Community Land Trusts are non-profit organisations that develop and maintain affordable homes and other spaces on behalf of a community, putting control of those assets into the hands of local people.
London CLT focuses on working with communities to create permanently affordable homes and transform neighbourhoods across London. St Clements is London CLT’s flagship project, comprised of 23 permanently affordable homes. The first London CLT residents moved into St Clements in Summer 2017.
London 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 income using data published by the Office for National Statistics in November each year. When London CLT residents want to sell up and move on, they are contractually obliged to sell their home at a price linked to local earnings again, meaning that the homes remain permanently affordable.
To find out more about London CLT homes, click here.