The government’s intended aim is to drive up the supply of low cost and social homes to help families and first-time buyers. The Green paper, announced by Housing Minister Yvette Cooper, will include investment, targets and proposals as part of the programme to meet the Prime Minister’s target of three million new homes by 2020.
The government gave its commitment to build at least 70,000 affordable homes by 2010-11, which will include 45,000 social homes a year – more than double built each year by comparison to 2004.
£300 million will also go towards transport infrastructure and the government has put in place rules to protect new homes from flooding.
Cooper said: “Unless we act now, by 2026 first-time buyers will find average house prices are 10 times their salary. That could lead to real social inequality and injustice.
We need more homes, but we need better designed, more sustainable homes. This is a Green Paper, responding to the challenges of climate change, with zero carbon homes and new eco-towns, and with tough planning rules on building in flood-risk areas.”
James Cotton, mortgage specialist for London & Country, said: “These are ambitious plans, but it is what is needed to meet demand. The problem of lack of supply is only getting worse and the government has to step things up. But it can’t just throw houses up. It must consider issues such as flooding, especially in light of this Summer.”
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