Seems to me that could increase the housing supply and offset the costs of HS2 at the same time - and most governments have had plans for new towns, new garden cities and suchlike.
Seems to me that could increase the housing supply and offset the costs of HS2 at the same time - and most governments have had plans for new towns, new garden cities and suchlike.
House prices near crossrail have risen an extra £133k each (above similar houses in similar places that don't get crossrail).
That's somewhere in the region of £100b.
Crossrail is a massive transfer of wealth from working people to wealthy land owners. It should have been funded entirely by a windfall levy on the increase land value near the stations.
A significant portion (over 30% of the original £17.8b budget) of Crossrail's funding has actually come from land owners and businesses, in the form of:
- Business rate supplements
- Property developer contributions
- Community infrastructure levy
- Sale of surplus property along the route
- Contributions from other non-taxpayer funded entities like Heathrow and the City of London corporation
Much of the rest of the funding is from TfL and loans backed by the DfT, which should eventually be payed back from ticket revenue.
Not that I particularly disagree with you, but I have two friends I'd consider 'working people' rather than 'land owners' who potentially benefit from increases in the value of their homes nearby the Crossrail improvements.
I don't think any such land ('cheap', 'middle of nowhere', '20 mins from central London') exists in the UK.
Or if Quainton is too expensive/green-belt-y, do the same at Wormleighton or Newton Purnell or somewhere else along the line.
That’s like... Croydon distance from London Bridge?
HS2 is designed to run a little faster and if you nixed the stop I think 30-35 miles could realistically be 20 minutes out of London on HS2. That sticks you right in the middle of the Chilterns if you follow HS2's rough direction.. probably not ideal for a town.
Add another 5 minutes, though, and there's a lot of open land just south-east of Oxford and just off of the M40 too..
The open land near Oxford will be open because it's a swamp. If you could build on it cheaply somebody would.
https://www.rightmove.co.uk/commercial-property-for-sale/pro...
Once close to a HS2 station yes it would be £5m a hectare
Nice to know we explicitly provide for land owners to extract rent even when they don't own the land any more.