Government pledges more new homes
9th June 2010
More people may soon be needing home insurance if the Government stands by its pledge to build more new homes.
Housing minister Grant Shapps said the Government wanted to help those who aspired to own their own home by boosting the number of new homes being built.
He said "powerful incentives" would help to achieve this aim, replacing the "meaningless targets" put in place by the previous government.
He said instead of being told what to build and where, local residents would be able to develop their own vision for their community, with local housing trusts set up to oversee the building of new homes.
He added that incentives would also create direct benefits for local communities, bringing jobs and investment, as well as more homes, to their area.
Mr Shapps said the coalition Government had also agreed to promote shared ownership schemes and help social housing tenants to buy or part-buy their homes.
He said: "I am simply saying to those who aspire to own their own home: this Government will support you, you will not be ignored. The age of aspiration is back."
At an event hosted by the Royal Institution of Chartered Surveyors, he said there were an estimated 1.4 million households who aspired to owning a property but were unable to do so because of house prices and mortgage availability.
He added that the average age of a first-time buyer who did not receive help from their family was now 37.
Copyright © Press Association 2010
- Locks and all; why you need a good door lock for home insurance security
- Home security – the basic rules
- 5 things everyone should know about estate agents
- Let there be light; tips to brighten up your home this winter
- Mortgage approvals hit a two year high
- Top 5 domestic financial resolutions for 2012
- Five tips for getting along with your landlord
- 5 DIY disasters we can all avoid
- Five of the world’s most expensive properties revealed
- Parents spend over £2 billion on Christmas gifts
- 5 tips for a financially active 2012
- A 5% deposit could make you a homeowner
- Trade body in roof insurance warning
- Riot victims to get compensation
- Counting cost of London rioting
- News Archive
