Home ownership schemes help get Britain building

May 15, 2014 1:20 PM
Originally published by UK Liberal Democrats

New figures today demonstrate how the Liberal Democrats' efforts to help aspiring homeowners onto the property ladder are getting Britain building.

Housebuilding has been a key part of the Liberal Democrats' long-term plan towards a stronger economy. It is providing desperately needed homes and also creating jobs on sites across the country and in the supply chain.

key_housebuilding.jpg

Housing starts are now at its highest level since 2007. 36,450 new homes started in the first three months of this year - a third higher than the same period last year, with housebuilding by councils now at a 23-year high.

Thanks to the Help to Buy Scheme, which was launched in April 2013, private housebuilding has increased by 34%.

Over 27,000 people have been helped through the Help to Buy Equity Loan, NewBuy and Mortgage Guarantee schemes.

As well as this, tenants can now find it easier to become homeowners due to the reinvigorated Right to Buy. And the revenues from Right to Buy sales are being recycled into building new affordable homes to rent.

This is on top of the Government's affordable homes programme, which has already delivered 170,000 new homes since 2010, with a further £23billion public and private investment planned for the three years from 2015.