Thousands of new homes are to be built on brownfield land to provide more affordable homes for first time buyers. The government will support councils in 30 areas to unlock land for building and developers are to give a 20% discount on the houses. The properties are expected to be available to buy from 2018 and the scheme is aimed at helping people between the ages of 23 and 40 to purchase their first home.
Key Takeaways:
- Brownfield land will be used to construct thousands of homes for first-time buyers, which will be available to buy in 2018
- The proposal will take place only in England, with 14 planned garden villages and 3 planned garden towns
- There is some controversy about Theresa May’s handling of the housing market, with some arguing that the proposed measures are unrealistic and late, while others are saying that they are not affordable for those on low incomes.
“The project is designed to boost housing stock quickly to help tackle a shortage of homes.”