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Guide to government Starter Homes policy

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07/10/2015
A precis of the changes to planning laws aimed at boosting the availability of starter homes announced by David Cameron.
Guide to government Starter Homes policy

 

  • Developers will be able to offer ‘starter homes’ for sale instead of or as well as offering a proportion of their new-builds as affordable homes to rent.
  • These starter homes will only be available to buy for first-time buyers under 40 years old, at discounted prices
  • The price of the starter homes after the government discount is applied will be capped at £250,000 nationwide and at £450,000 in London
  • Those who buy them will be prevented from selling them for five years, to dissuade those looking to make a quick profit under the new policy
  • This is connected to the Conservative manifesto promise of ‘200,000 new homes by 2020’.

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