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Starter Homes Initiative

Starter Homes Initiative

16th December 2014

Head of UK Policy at the RICS, Jeremy Blackburn, recently published an article about the government’s Starter Homes Initiative on the RICS website. In his article, Blackburn claims that “the government is trying to pull out all the stops to get more houses built before the end of this Parliament.”

Essentially, the Starter Homes scheme removes some of the costs for private developers by subsidising new build housing projects on brownfield sites for first time buyers. This scheme is in addition to the recent stamp duty reforms.

It is widely thought that measures which increase the delivery of new homes in the UK are likely to boost the housing market and the economy overall so are generally seen as positive and welcome changes.

However, Mr Blackburn warns that “the ability of local councils to afford the supporting infrastructure that these new homes will require” should also be considered and that “housing supply needs to increase across all tenures.”