Building up means using our existing land better, replacing terraces and detached houses towards the city centre with Edinburgh- or Paris-style apartments. These stand 3 or 4 stories tall, and provide many more families a place to live with the same footprint.
Besides bringing prices under control by raising the supply of housing, this is also good for local businesses, who suddenly have many more people living within walking distance. Restaurants, cafes and local shops all stand to benefit.
Housing replacement can be placed under local control, requiring owners and tenants to agree to redevelopment. When replacement schemes are structured to financially benefit the existing homeowners and tenants alike, the result can be a win-win for both existing and future residents.