Homes to buy

Chloe Smith, MP for Norwich North, has welcomed news that the housing budget will be doubled to meet the challenge of providing good homes for all.

 

Commenting on the plan, Chloe said:

 

“What we heard in the Chancellor’s Autumn Statement is a bold plan to back families who aspire to buy their own home.

 

“As part of my election campaign I said I wanted to see a good home for everyone in Norwich. Doubling the housing budget to £2 billion will fund the biggest house building programme since the 1970s. That’s 400,000 affordable new homes by the end of the decade, almost half of which will be Starter Homes, sold 20% below market value to young first time buyers.

 

“The Government is also removing many restrictions on shared ownership, extending the Right to Buy to housing association tenants, reforming planning and releasing public land for homes to promote building.”

 

The move comes as part of a continued drive to enable people to buy a home of their own. A new rate of Stamp Duty 3% higher on the purchases of additional properties like buy-to-lets and second homes will be used to invest in local communities and new housing.