Communities Secretary Greg Clark has announced the launch of a £26million fund which will help architects, developers, councils, and housing associations to acquire brownfield land on which to build Starter Homes. Clark also made available £10million to help local authorities prepare brownfield sites for development.
The British Property Federation (BPF) has hailed the launch of the funds as a welcome step towards unlocking brownfield land, which often demands a complicated and lengthy planning process, and which is expensive to develop.
It has warned, however, that more funding will need to be provided if the Starter Homes initiative is to deliver the 200,000 homes that the government has promised.
Starter Homes will be offered exclusively to first-time buyers aged under 40 with a discount of 20% on market values in exchange for exempting developers from certain levies.
Melanie Leech, chief executive of the British Property Federation, commented: “Brownfield sites often prove to be extremely lengthy and complex to develop, and if the government wants to see significant amount of housing delivered on them, then developers and housebuilders are going to need some help.
“The funds launched today show welcome recognition of this fact, but we will need to see more from government if it is to reach its Starter Homes targets.”
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