Good news for first time buyers

Tuesday 11 August 2015  / Ruth Montia

The Department for Communities and Local Government has announced that up to £10m will be available for councils to prepare more brownfield land for development of starter homes.

The government has launching a £26m fund for house builders and developers to establish the range of high quality homes suitable for first-time buyers.

Greg Clark, the Communities Secretary says that the funding will complement the government’s existing starter home initiative by “support [for] architects, developers, councils, housing associations and small builders to build properties that will increase the quality of design as the government delivers on its pledge to build 200,000 starter homes by 2020.”

It is suggested that the funding will probably be used specifically to acquire brownfield sites that will provide land for starter homes. The money from the sale of these said sites to builders will go back to the government.

Clark goes on to say that “We are committed to delivering 200,000 starter homes by the end of this Parliament, providing a real boost to aspiring young first-time buyers. This competitive fund will build homes that will clearly show the wide range of new properties that will be available for first-time buyers as they take their first step on the housing ladder”.