Government outlines new housing strategies

The government has revealed details of its new housing policies, designed to help combat the increasing number of financial difficulties being experienced by first time buyers and others on the property ladder.

Housing minister Yvette Cooper outlined the programme in the House of Commons, including plans to build the UK's first new towns in a generation via five eco-towns that councils are set to bid for in the near future.

The Green Paper also features measures designed to clamp down on investors who do not use the land they have purchased within three years of having gained planning permission.

An equity loan of 17.5 per cent will also be provided in an effort to provide flexibility in regards to mortgages, while rural authorities will receive new guidelines on helping first time buyers.

A report issued by the Commission for Rural Communities earlier this month found that the average cost of a home in many rural areas is now ten times the average first time buyer income.

"We need more homes - but we need better designed, more sustainable homes. This is a green Green Paper, responding to the challenges of climate change, with zero carbon homes and new eco-towns, and with tough planning rules on building in flood-risk areas," Ms Cooper advised.


© Adfero Ltd