Prime Minister announces consultation for ‘First Homes’
A summary of the new and existing housing measures contained in the Queen’s Speech can be found below:
- Reiterating its commitment to helping people realise their dream of homeownership, the Government revealed it will shortly launch a consultation on First Homes. This will provide homes for local people and key workers at a discount of at least 30 percent. The discount on First Homes will be secured through a covenant, meaning the homes will remain discounted in perpetuity.
- The Government will renew the Affordable Homes Programme
- The Shared Ownership model will be reformed with the ambition of making the home buying process fairer and more transparent
- A commitment to building at least one million more homes over this Parliament was outlined in the Queen’s Speech. Plans for achieving this ambition will be unveiled in the coming months, including the Planning White Paper and funding for critical infrastructure. The Government also specified that the Planning White Paper will “address resourcing and performance in Planning Departments”.
- The new £10bn Single Housing Infrastructure fund will provide the roads, schools and GP surgeries needed to support new homes
- A Social Housing White Paper will be brought forward which will set out further measures to empower tenants and support the continued supply of social homes
Read the speech in full by clicking here.