Thomas Bridge 02 March 2015

First time house buyers offered 20% discount

First time house buyers will from today be able to register for a 20% discount on certain properties in England.

The Starter Homes initiative will allow prospective buyers aged under 40 to claim the discount on properties built on brownfield sites. Discounts will remain on these properties for the first five years to stop buyers from re-selling and winning a quick saving.

Builders will be freed from affordable housing contributions to develop these properties on underused commercial or industrial land.

Councils and housebuilders can now start submitting plans to get Starter Homes developments underway, with working alongside developers to find suitable sites.

Yet housing associations raised concerns that the scheme could be detrimental to the development of affordable and social properties.

Prime minister David Cameron said: 'We want to help people who work hard and want to get on in life but have been priced out of the housing market. A 20% discount off the price could be a real game-changer for many aspiring home-owners.'

Communities secretary Eric Pickles added: 'The number of first-time buyers is already at a seven-year high and these Starter Homes, available at a 20% discount, will help even more people realise their dream of home ownership.

'This will also form part of our wider efforts to get the country building again, which have already led to 700,000 new homes being delivered since the end of 2009.'

Responding to the announcement, David Orr, chief executive of the National Housing Federation, said: 'This initiative would come at the expense of investment into properties for affordable and social rent and shared ownership, taking money away from renters and giving it to first-time buyers. We need all developments to contribute to affordable housing supply.

'We are calling on the next government to come up with a long-term plan to end the housing crisis within a generation, by making homes affordable as well as helping first-time buyers.'

SIGN UP
For your free daily news bulletin
Highways jobs

Assistant Director - Resources - South Yorkshire Pensions Authority

South Yorkshire Pensions Authority
£93,559 to £102,865 plus benefits and relocation support
We are looking forward to recruiting a new Assistant Director - Resources who will further develop our thinking and help us realise our ambitions. Barnsley, South Yorkshire
Recuriter: South Yorkshire Pensions Authority

Social Care Assessor – Hospital Discharge Team

London Borough of Richmond upon Thames and London Borough of Wandsworth
£32,841 - £45,564
Social Care Assessor – Hospital Disch... Teddington, Greater London
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Residential Worker

Essex County Council
£25395.00 - £32131.00 per annum + pension
Residential WorkerPermanent, Full Time£25,395 to £32,131 per annumLocation
Recuriter: Essex County Council

Deputy Chief Accountant

Oxfordshire County Council
50269 - 53460
As Deputy Chief Accountant, you will support the Chief Accountant in maintaining and improving the council’s financial accounting systems and ensuring accurate, timely statutory reporting. You will coordinate the preparation of the annual Statement of A Oxford
Recuriter: Oxfordshire County Council

Sector Growth & Skills Lead

Essex County Council
£44434.0000 - £52275.0000 per annum
Sector Growth & Skills LeadFixed Term, Full Time£44,434 to £52,275 per annumLocation
Recuriter: Essex County Council
Linkedin Banner