An update on Starter Homes
This year will see the first Starter Homes being built on brownfield sites across the country, Housing Minister Gavin Barwell confirmed on 3rd January 2017.
Thousands of new homes backed with financial support will help more first time buyers into home ownership.
The new Starter Homes will be built exclusively for first-time buyers between 23 and 40 years old at a discount of at least 20% below market value.
The first wave of 30 local authority partnerships, which have been selected on the basis of their potential for early delivery, will spearhead schemes. The first council areas that will begin construction later this year along with sites supported by the Homes and Communities Agency include Bristol City Council, Gloucester City Council and Stoke on Trent City Council.
These partnerships have been established under the Government’s £1.2 billion Starter Homes Land Fund which supports the development of starter homes on sites across England. This fund was established in April 2016 to support the acquisition, remediation and de-risking of further suitable land for starter home developments. Some 71 sites across the country have already received investments, including land at: Plymouth, Bury, Basildon, Stockport, Bridgwater, Cinderford, Minehead, Bristol, Trafford, Isle of Wight, South Ribble and Swindon.
These new developments are also intended to support the wider growth and regeneration of local areas, including some town centre sites