Maybe the reason the Kenny Report is sitting on a shelf gathering dust is that governments do not want to reduce the cost of housing.  Their core voters are home owners who will be horrified at the thought that the value of their house would be reduced, even minimally. But unless they are planning to sell the house, that is a purely paper reduction.

If land that has been identified for the RZLT was instead purchased by local authorities using the CPO mechanism and used to build public housing, it would be a step in the right direction.

This issue is not only affecting the property market for potential buyers. Land hoarding and speculation also affects the delivery of social housing. Higher land values consume a significant part of the budget of AHBs – who deliver much of our social and affordable housing – and directly impact the final cost of the houses and apartments. This has an obvious immediate impact on how many units they can deliver. It is also an issue when calculating the financial outlay for affordable and cost-rental housing, which in turn affects the price of sale or rent of a unit and the overall long-term sustainability of a scheme.