A target of 100,000 new homes annually over the next 11 years in the Southeast of England alone have been announced as part of the government's 5-year action plan published today.
Besides the 1.1 million new homes pledged by 2016, the government has also pledged resources to allow up to 300,000 local authority and housing association tenants to buy shares in their properties.
Another 10,000 social homes will be built every year, according to the Office of the Deputy Prime Minister.
Key workers and lower income earners will be targeted by a process of subsidies focused on keeping construction costs at or below £60,000 per unit.
The 5-year plan for home ownership has been joined by the announcement from deputy prime minister John Prescott of a Householder Development Consents Review, which will look at red tape currently restricting home improvements.
The review will focus on ways to speed up the existing planning process, while also looking at ways to involve neighbours in the application process at an early stage to reduce the number of adverse cases that require local authority involvement.
Changes to the Housing Planning Policy (PPG3) have also been announced, which look to speed up the process of development of new housing on brownfield sites, giving local planning authorities “more options”, says Keith Hill, minister for planning.IFAonline
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