£26 million fund put aside by government to help build new homes

News at Howes Estates | 18/08/2015

The government have set aside £26 million to help develop new build homes, mainly aimed at first time buyers to give them the opportunity to get onto the property ladder.

They have pledged to build 200,000 homes by 2020, aiming to build a range of different types of housing to suit a variety of potential buyers. Although the scheme is mainly aimed for first-time buyers in England, the plans do also include those who currently own a home.

This £26 million investment is alongside a further £10 million investment, going towards developing brownfield land for the new builds. These plans will be put into place with the help of small builders firms, architects, developers and the council housing association, bringing affordable, quality housing, as well as providing more jobs for small builders to help their community. The combined efforts of all these groups should lead to an increase in design quality, making the most of the land to benefit potential homebuyers.

Housing Minister Brandon Lewis added that they have already managed to secure and help over 100,000 households for first time buyers through the flagship Help to Buy scheme, and this added fund to build starter homes would be a further step in the right direction of a permanent housing solution.

The Housing and Communities Agency will be supporting the starter scheme with both brownfield land and developmental expertise. This fund should also help boost the property market overall.

If you are looking to buy your first home, we often have property for sale in Chulmleigh and other nearby towns – so make sure you check back regularly to find your perfect home.


Images: David Wright under Creative Commons

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