Construction of 13,000 new homes signed off in SE England
Number Ten has announced the biggest government-led home building project since the redevelopment of the Docklands with the construction of 13,000 homes to be built in the Southeast.
Creating Homes… and Jobs
The homes will be built at a number of locations across the southeast including up to 25,000 in Hammersmith and Fulham, London. Further locations include Dover in Kent, Chichester in West Sussex, Gosport in Hampshire and Northstowe in Cambs.
This house building project will help towards the Government’s mission to build one million new homes before 2020. The first phase of this is expected to occur over the next five years.
The project will be commissioned to smaller house building companies rather than the big eight companies that account for more than 50 per cent of new builds in the country. Building will take place on Government-owned sites where consent for building is already in place. Any such major build will be intended to not only increase the amount of affordable homes in the southeast of the UK, but also to boost the local economy and job availability.
In addition to this project, the Government has also announced that a £1.2bn fund will be set for building starter homes on brownfield sites. These properties will be available under a Starter Homes initiative with options for first-time buyers, who will buy be able to buy properties with a 20 per cent discount on market prices. All houses under the Starter Home scheme will be priced under 450K.
The government has pledged to build 200,000 starter homes by 2020. According to the cabinet, this is the biggest government-led building project since the 1980s when the Docklands and Canary Wharf area of London was completely redeveloped. This housing project may be just as innovative and could include ideas such as those applied by modern architectural companies.
The Labour Party has accused the Tory party of spin. John Healey, the shadow minister for housing and planning, has said that this isn’t enough to make up for five years of Tory failings. Current homeownership is at its lowest point in a generation, and home building is actually at its lowest peacetime point since the 1920’s. According to the Labour Party, the gesture is simply too little, too late.