Expanding this dream to the many must be a priority in our nation. The Government has a stated ambition to create one million more homeowners and to help have doubled the housing budget to more than £20 billion over the next five years coupled with the
the largest house building programme by any government since the 1970s.
(1) Delivering 400,000 new affordable home starts by 2020. We have doubled the housing budget. (2) Extending Right to Buy to housing associations tenants – ending the unfairness that allowed only council tenants to use Right to Buy. Housing associations have committed to provide an additional home for each property sold under Right to Buy on a one-for-one basis.
(3) Granted automatic planning permission in principle for brownfield sites and councils
have a duty to allocate land for homes for 20,000 custom and self-built homes a year by 2020.
(4) Launching London Help to Buy and Help to Buy: ISAs – helping people save towards their first home. Allows Londoners to buy a home with just a 5 per cent deposit.
(5) £3 billion Home Building Fund to help build more homes. Offering direct support for those who cannot access financing in the market. £1 billion of short term loan funding will be for small builders and custom builders, delivering 25,000 homes this Parliament and £2 billion of long term funding will be for infrastructure and large sites, unlocking a pipe line of up to 200,000 homes over the longer term.
This strategy will go a long way to boosting the housing supply that the previous Labour Government seemed unable to do, with housing delivery at certain points being the lowest since the 1920’s.
It is right that everything is done to ensure those wanting to get on the housing ladder can.