Community Land Trusts (CLT) will be able to cut the cost of getting on the housing ladder, as buyers will only pay for the building, not the land, of a property.

The amendment says community land trusts must be run by the local community and serve its social, economic and environmental needs. The trusts must allow land to be developed only in a way that is beneficial to the community and must use their profits for the community's benefit.

Housing Minister Iain Wright said: "We have to constantly look at new ways to meet the long-term demand for more homes. Community Land Trusts puts local communities at the centre stage of delivering the homes our first-time buyers and young families desperately need."