Co-owned housing could be the answer to London’s escalating housing crisis. In a model that has already been successful in Sweden and Switzerland - and is being trialled in Wales - co-operative enterprises would manage the properties, offering long-term rentals to tenants at the lower end of the wage spectrum. The idea was first proposed by the Co-operative Housing Association (CHA) as part of its “Building for Lives” campaign, which aims to build more affordable homes across Britain.
Co-owned housing could be the answer to London’s escalating housing crisis. In a model that has already been successful in Sweden and Switzerland - and is being trialled in Wales - co-operative enterprises would manage the properties, offering long-term rentals to tenants at the lower end of the wage spectrum. The scheme would not only offer transparency and security, it would allow people to save money for a future mortgage, while also offering a chance for public authorities to lease land for the building of co-owned properties.