Developers are experiencing cash flow problems which are hampering new development while the public sector is sitting on a huge amount of disused land and empty offices. A ‘Build Now, Pay Later’ option for builders to start work on this land now and pay when the houses are bought should help ease the problem. The release of disused public land to build up to 100,000 new homes will also make available funds to help bring down the deficit.
In addition, Labour destroyed Right to Buy when they reduced discounts to absurdly low levels for political reasons. So the Government will raise the discounts and make Right to Buy attractive again.
Jake Berry said:
‘Under Labour, house building fell to its lowest level since the 1920s and local authority housing waiting lists almost doubled. Meanwhile, the average age of a first-time buyer without access to the Bank of Mum and Dad has soared to 37.
Clearly the house building industry and home ownership itself is in need of a boost which is why I am pleased that this Government is willing to take these steps.
I am also very pleased to have had the opportunity to discuss housing in Rossendale with Martin Roberts who has just started filming a new series of “Homes Under the Hammer” featuring Rossendale.’