In this weeks’ Budget, George Osbourne has announced that his housing policies will “support more than 200,000 new homes for families”.
There will be a £150 million fund made available by the Government, to regenerate “some of the housing estates that are in the worst condition”.
He confirmed that the Help to Buy equity loan scheme will be extended to 2020. They are also introducing a Right to Buy scheme, this will give custom builders the right to a council plot. They hope to provide up to 10,000 serviced plots.
The budget has confirmed the governments’ commitment to releasing public land for development and the chancellor also announced a £500 million Builders Finance Fund to bring forward 15,000 housing units and support SMES. [/divider10]