Gov: 20% of new homes to be starter homes

Gov: 20% of new homes to be starter homes

Under new government proposals published today, new housing development sites that have 10 or more properties on them will have to make 1 in 5 of those properties a starter home.

Under the new scheme, starter homes will be available at a minimum 20% discount below market value first time buyers under 40 as part of the government’s pledge to build 1 million new homes, including affordable housing for sale, rental and private purchase.

Housing and Planning Minister Brandon Lewis said: "We want to ensure young people who aspire to own their own home can settle down and enjoy the security home ownership brings. This is why we have committed to building 200,000 high quality homes exclusively for first time buyers backed by £2.3 billion government funding to get building underway including on brownfield sites.

Today’s proposals mean starter homes will be built on hundreds of housebuilding sites across the country, encouraging private and affordable housing is built side by side in mixed communities.

The government’s starter homes support package is £2.3bn for a first wave up to 60,000 starter homes, including £1.2bn for brownfield land housebuilding.


Other measures proposed in the consultation include:

- starter homes can only be resold to other first time buyers, at a discount, for 5 to 8 years after purchase; this is to ensure the homes benefit genuine first time buyers and to discourage speculative buying

- restrictions also on sub-letting so starter homes are not buy-to-let opportunities

- allowing joint purchasers where one partner is above 40 and one below to be eligible for a starter home

Also under the proposals injured military personnel and partners of those who lost their lives in service would be eligible for a starter home at any age, rather than see a cut off at age 40.

The move will help this group who may otherwise face issues accessing the starter homes scheme.

Brandon Lewis said: "It’s absolutely right that we provide help and homes for our heroes, that is why we’re proposing that starter homes should be available to injured soldiers and partners of those who have made the ultimate sacrifice for our country."

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton 01 Sep 2017

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

It depends on the people, some older adults decide to make a long-distance move in order to live closer to their children or settle in a place with a lower cost of living.

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brandonlee10
brandonlee10 24 Jul 2017

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IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

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IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

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cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

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