The Government announced a new scheme yesterday to help thousands of key workers and first-time buyers get on to the property ladder.
The scheme aims to make it easier for local authorities to ensure affordable housing is built on land they release to housing developers through the creation of Local Housing Companies.
These companies will be a partnership between councils and the private sector, enabling councils to continue to have a say in how land they sell off is used.
At the moment councils have very little voice in how surplus land they sell to the private sector is developed and the type and quality of housing that is built on it.
But under yesterday'sn announcement councils, inlcuding Wolverhampton, will provide surplus land for building on to LHC free of charge or at a reduced rate, in return for which the private sector partner, such as a housebuilder, will hand over some of the properties to the company.
LHC will enable councils to dictate what happens on the land, meaning they could double the amount of affordable housing built to at least 50 per cent of properties and directly offer key workers and first-time buyers shared equity deals.
Housing Minister Yvette Cooper said: "We urgently need to build more homes for first-time buyers and families.
"That's why we are investing £10.2 billion to increase affordable and social housing.
"But Government cannot deliver this alone. This is a new way to help councils to do their bit to support new homes for key workers and families in their areas."
She added that 14 local authorities had already expressed an interest in the scheme, including Wolverhampton, Leeds, Sheffield, Nottingham, Newcastle, Wakefield, Sunderland, Peterborough, Bristol, Plymouth, Manchester and Barking & Dagenham.
