Wednesday, September 05, 2012
The Government is expected to announce a new strategy to
increase massively the volume of UK housebuilding
at the end of next week.
According to several industry and government sources involved in
the process, the announcement has been earmarked to be made in the
second half of next week after Parliament returns from its summer
The announcement will come despite the fact a number of key
details are yet to be tied down.
There has been increasing media speculation in recent weeks that
the Government is looking at removing the requirement upon private
builders to provide affordable housing in order to stimulate the
supply of private housing, and is simultaneously looking at
providing government backing to housing associations intent on
raising money for building affordable.
We understand the Government is also considering diverting extra
public funding to support the announcement, following requests from
private builders for another round of the Government's FirstBuy
shared equity scheme.
However, it is understood that firm decisions have not yet been
reached. One source said: "There is still currently quite a bit
in play, and it is difficult to say exactly where the final
decisions will land."
Other potential options that the government is understood to be
- Tax breaks on investors in homes for private rental
- A relaxation on building regulations for self-build homes
- Further commitments on providing public land to developers for
the construction of new homes