We recently heard the announcement of Boris Johnson’s affordable housing plan. The Prime Minister’ plan promises to help the country bounce back from the Coronavirus crisis. But just what does the plan entail and is it going to work?
The basic idea involves creating thousands of affordable homes for first-time buyers to help keep the property market moving. He has also said he wants to make it easier to build better homes where people want to live. This involves allowing change of use for buildings in town centres without the need for planning permission. It also means that new homes will be created from previously empty buildings. There will be a £12 billion affordable homes programme that aims to support 180,000 new houses for ownership over the next eight years. All these new changes will come into effect as of September this year.
In addition, smaller home builders will be given around £450 million to create around 7,200 new homes. Read more...
