First Time Buyer
Record high jump in affordable homes
The number of new affordable homes has jumped by its highest level since 1993, with 66,440 being delivered in the last year.
According to figures published by the Department for Communities and Local Government (DCLG), over 270,000 affordable homes have been completed since 2010, with 55% more delivered than the previous year.
The number of social and affordable homes built for rent increased by nearly two-thirds, while the number of affordable homes to buy rose by 41% during the same period.
Housing focus
Last week, the Chancellor announced during his Autumn Statement and Spending Review that investment in housebuilding would double. This pledge forms part of the Government’s huge push to encourage affordable homeownership and help more aspiring buyers onto the property ladder.
Housing minister Brandon Lewis, said the Government recognised that there was more work to do.
“Our housebuilding efforts are paying off and can be seen by this considerable increase in the number of affordable homes built in just one year,” he said.
“This is real progress but there is more to do. That’s why we are going further and increasing our investment in these homes to ensure many more hard-working people can benefit.”
Related Posts
- Thousands of first-time buyers in arrears due to Help to Buy ‘scheme stress’
- The ‘Bank of Family’ to fund record number of property deals in 2023
- Nationwide, Halifax, TSB and HSBC cut rates as mortgage costs continue to fall
- Greater London the most expensive region for first-time buyer deposits but where’s the cheapest?
There are 0 Comment(s)
Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?
Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...
Is now the time to fix your energy deal?
Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...
Everything you need to know about the pension triple lock
Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts
A number of banks are luring in new student customers with cold hard cash this year – while others are compe...
DIY investors: 10 common mistakes to avoid
For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.
Mortgage down-valuations: Tips to avoid pulling out of a house sale
Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?
Money Tips of the Week
© AE3 Media Ltd, 21 Great Winchester Street, London EC2N 2JA, Company.