Autumn Statement 2016
Our Managing Director, Chris Schutrups has welcomed Chancellor Phillip Hammond's Autumn Statement announcement of the £1.4bn spending on new affordable homes as a boost that the sector needs. It is great news for the housing market as a whole that the pledge is set to deliver 40,000 affordable homes and allow renters to buy their own homes.
In today's release of the Autumn Statement the chancellor also introduced a £2.3bn housing infrastructure fund that will help to provide 100,000 new homes within high populated areas. The Right to Buy scheme for housing association tenants, Help to Buy Equity and Help to Buy ISA schemes will continue as they improve the affordable of housing and renting.
Housing market expert Chris said: "There is a chronic shortage of housing stock, especially at the first time buyer and affordable homes levels, and that has an impact at every stage in the housing chain.
"We have had promises before form successive chancellors that funding would be available to 'Get Britain Building' and it has not actually happened. There seems a new determination this year that the pledge will be followed through and that is to be welcomed.
"We work with a lot of affordable and first time buyer developers and home purchases and it is very clear to us that the supply of new houses has been nowhere near the level to meet the demand for them.
"Part of that is tied up in planning regulations and red tape and that has disincentivised developers from moving forward on low cost and affordable home projects.
"We have been told in the past that that will change - I feel more optimistic this time that the change will actually come."