Measuring the impact of institutional and sustainability influences on renewed housing development strategies: implications for the shared equity housing model

Policy plays a major role in the state of housing in any given community; therefore, housing policies can make an immense difference to tackling disadvantage, and also ensure that households even on the lowest incomes live in decent homes and engaging communities. In contrast, if policy fails, this could result in the lack of satisfactory homes, and a reduced quality of life. Despite continual government effort, existing research still reflect a continual shortfall of homes in the United Kingdom (UK). The low perennial underrepresentation of FTBs also remains an indicator of the state of housing in the UK. However, affordable housing accessibility for this group remains an uphill task in the midst of current austerity measures and their constantly changing demographic characteristics. As a sort of panacea to the aforementioned issues, literature has consistently touted the Shared Equity Housing Model (SEHM) in the form of a Community Land Trust (CLT) as a viable alternative for affordable housing. It also appears to be an adaptable vehicle towards easing the FTB (First Time Buyer) housing ownership dilemma. Amidst these seeming potentials, the CLT SEHM is underperforming in the housing sector, occupying a niche outside of the mainstream, squeezed out by supposed municipal and voluntary provisions. In essence what this research aims to do is to identify the gap in knowledge on how the housing delivery performance utilising the SEHM can be improved both as model and as a CLT vehicle employed in easing FTB ownership problems. The study investigated barriers militating against the Community Land Trust Shared Equity Housing Model (CLT SEHM) from attaining its set targets and also obstacles preventing FTB engagement of the model as a viable route towards home ownership. To achieve this aim a comprehensive literature review was undertaken to justify the need for this research (Chapter Two). A triangulated and mixed methodological approach was employed to unequivocally fulfil research objectives as a route to ultimately accomplish the overarching research aim which is to design a framework that would enhance the overall effectiveness of CLT SEHM in affordable housing provision. Semi-structured interviews and questionnaire surveys were targeted at concerned identified stakeholders in affordable housing to achieve set research goals. Research findings indicated that amidst a competitive housing provision sphere, a viable model should be able to compete effectively by providing a service that actually solves a problem. The state of FTB housing ownership problems has been an enduring aspect of housing research, yet with no significant improvement in their plight. Findings focused on the potential strategic role of the CLT SEHM in alleviating the underrepresentation of FTBs in housing ownership within the ramifications of this study. The quest of engaging FTBs for the CLT SEHM was however found to have its problems which manifests as barriers to home ownership. Also, the supposed panacea in the form of the CLT, a shared equity housing model (SEHM) was also found to have underperformed consistently. The state of underperformance was found to be linked to inherent affordable housing problems, which is part of the crux of the problems that have relegated the FTBs to a disadvantaged position on the housing ownership ladder, besides other personal attributes and limitations that were rigorously addressed in the course of this study. The cross-validation process of literature with text analytical findings identified in juxtaposition a two-tier classification of obstacles to the CLT (SEHM) i.e. institutional and sustainability impacts alongside their mitigating drivers. In order to achieve empirical validation, the research employed questionnaires strategically targeted at population groups to investigate the ramifications of these two-tier barriers, thus defining mitigating drivers. Descriptive and statistical tests were employed for this process. Moreover, strategic data findings were subjected to Structural Equation Modelling (SEM) with AMOS to address the research hypotheses. Combinations of these triangulated findings make up the consolidated elements used to achieve the research aim i.e. to propose a viable CLT (SEHM) development framework to address aforementioned key barriers.