Right to Buy creates nearly 40,000 new homeowners

Ministers welcomed this as further evidence of how government-led efforts are supporting homeowners and the house building industry.

Today’s figures also show that 3,644 new starts and acquisitions have been made since the Right to Buy was reinvigorated in 2012.

This means that the 3,054 additional homes sold in the first year of the scheme are already being replaced on a one-for-one basis nationally.

Housing Minister Brandon Lewis said: “For years, the discounts available under the Right to Buy were left to dwindle, denying thousands of people the opportunity to own their own home.

This reinvigorated scheme has turned that around, and means nearly 40,000 people have been able to buy the home they love – many of whom might otherwise never have had the chance to become homeowners.

On top of that, it’s getting homes built, with councils replacing the additional homes sold on a one-for-one basis.”

Since the reinvigoration of the Right to Buy scheme, nearly £964 million in sales receipts are being re-invested into building new homes; levering a further £2.2 billion of investment over the next 3 years.

This means that in total, over £3.2 billion will be raised to invest in affordable house building as a result of the as a result of Right to Buy.

In the 3 months to June, 2,779 households bought their homes under Right to Buy.

Local authorities received approximately £223 million from Right to Buy sales, 5% higher than the £212 million in the same quarter of 2014 to 2015.

New figures show a rise in number of homes built

New figures show a rise in number of homes builtHousing Minister Brandon Lewis today welcomed new figures showing a rise in the number of homes being delivered across the UK.

The latest housebuilding figures show that there were over 131,000 completions in the last 12 months, 15% higher than in the previous 12 months and at their highest annual total since June 2009.

Housing Minister Brandon Lewis said: “Our One Nation government has got the country building again with today’s figures showing that 131,060 extra homes have been built in the past year.

This has provided a real boost to the UK’s construction industry and is delivering the homes that hard-working people rightly deserve.

We’re also determined to support those who aspire to own their own home, which is why we’re making up to £10 million available to bring forward brownfield sites to build new Starter Homes which will be available to young first-time buyers at a 20% discount.”

Housebuilding is at the heart of the government’s long-term economic plan.

Latest figures from the Office of National Statistics have shown that output in the construction industry increased by 2.7% in June compared to the same month last year. Work on private new housing between April and June rose by nearly 3.9% on the previous quarter.

The government has also given local people the powers they need to drive forward housing development with the number of homes in locally led plans up by a quarter.

Before March 2012 the average number of homes planned for by local authorities stood at 573 per year. But radical reforms put Local Plans and housing delivery at the heart of the planning system.

This has helped expand the housing pipeline with those Local Plans published after the reforms containing on average 717 homes per year.

The government is also helping hard-working people achieve their dream of home ownership with more than 200,000 households helped to buy property through government-backed schemes since 2010.

£100m boost for small house builders

£100 million boost for small housebuildersSmall builders will benefit from a £100 million cash boost to recognise and support their important role in keeping the country building, Housing Minister Brandon Lewis said today.

The Housing Growth Partnership will act as a dedicated initiative that will invest alongside smaller builders in new developments, providing money to support their businesses, helping get workers onto sites and increasing housing supply.

The Partnership will also establish a network of builders, including experienced developers, who will act as mentors and advisers to those looking to expand and grow their businesses.

Supporting small builders

In the last 25 years, the number of firms building between 1 and 100 units a year has fallen from over 12,000 to fewer than 3,000.

That’s why the government has placed housebuilding at the heart of its long-term economic plan, to get homes communities want built and create jobs in construction and related industries.

The latest housebuilding figures show starts have more than doubled since those seen during the same period in 2009 – with both starts and completions rising in the past year and the number of homes granted planning permission are at the highest annual total for 8 years.

The government has matched a £50 million investment from Lloyds Banking Group to create the £100 million Housing Growth Partnership, which will be used to help smaller builders to invest in new projects and develop their businesses, allowing them to recruit and train skilled workers and become more competitive in their local area.

The partnership expects to make around 50 investments, with the aim to provide an additional 2,000 homes.

Housing Minister Brandon Lewis said: “The 2008 economic crash devastated our army of small builders, with delivery falling from 44,000 homes to just 18,000 – 7 years on, companies are getting back on their feet but we’re determined to give them all the help they need.

Access to finance is one of the biggest challenges they face – so that’s why today I’m launching this £100 million commitment which will help our smaller builders fund new projects, expand their businesses, create more jobs and build more homes.

With housing starts at a 7-year high and climbing and homes granted planning permission at 261,000 – the highest since 2007, this work will ensure we maintain this momentum and keep the country building.”

Andrew Bester, Group Director and Chief Executive, Commercial Banking, Lloyds Banking Group said: “The challenge of housing supply and affordability is one of the biggest issues facing Britain today, so we at Lloyds Banking Group welcome the government’s announcement of support for the Housing Growth Partnership, which will double the capability to support SME house builders.

It will provide SME house builders with much needed equity to support residential development projects, to stimulate growth in their businesses and facilitate access to conventional property development finance.”

Returning troops can get Britain building

Government welcomes house building boostHousing Minister Brandon Lewis has today issued a call to arms to the nation’s former servicemen and women to consider new careers building the nation’s homes.

Housebuilding levels are now more than double those seen in 2009 – meaning developers need more skilled workers than ever.

Mr Lewis argued that men and women who have served our country in our armed forces are well-equipped with the skills that the industry needs – such as opportunities in construction, civil engineering and the built environment sector.

He said that anyone looking to make a return to ‘Civvy Street’ could carve out a successful career in construction – with an industry ready and willing to take them on.

From combat to construction

The housebuilding industry was devastated by the 2008 economic crash, leading to the loss of a quarter of a million construction jobs.

That’s why the government has placed housebuilding at the heart of its long-term economic plan – and it’s working with starts now at their highest since 2007.

Brandon Lewis told armed forces leavers that this means now is one of the best times to build a career in the construction industry.

Mr Lewis attended a BuildForce recruitment event at RAF Northolt, and spoke to ex-services personnel who are looking to start new careers.

Nearly 20,000 people leave the armed forces each year, ready to bring their considerable skills and experience to ‘Civvy Street’.

The regular events offer the chance for people to look beyond bricklaying to see the vast range of skilled jobs on offer and hear form ex-military personnel who work in construction.

Housing Minister Brandon Lewis said: “Our efforts have got Britain building with starts at their highest annual level for nearly 6 years, creating thousands of jobs across the country.

The brave men and women in uniform who have served their country in our armed forces should be at the front of the queue for skilled construction careers when they return to Civvy Street.”

Steve Radley, Director of Policy at Construction Industry Training Board (CITB), said: “BuildForce helps ex-servicemen and women take the skills they’ve learned in the forces into construction, where they can build the hundreds of thousands of new homes Britain needs.

The project’s success lies in the strong partnership between industry and the military, which CITB is proud to fund and support.

The construction sector needs over 200,000 talented new workers in the next 5 years, and there are rewarding careers available for people of every background and experience.”

Government fund to support thousands of custom builders

Government fund to support thousands of custom buildersA multi-million pound fund will help aspiring custom builders get their projects off the ground more quickly, Housing Minister Brandon Lewis announced this week.

The minister announced that the next phase of a £150 million fund is now open to bidders. It will create up to 10,000 so-called ‘serviced plots’ – land prepared for housebuilding, and connected to utilities such as gas and water, so builders can go straight in and build.

The average self-build takes 2 years – but those using serviced plots can cut this by up to a year.

Mr Lewis said that more and more people want to build their own home and today’s move will help further unlock the “massive potential” the custom build industry has to expand.

Unlocking the country’s custom build potential

Housebuilding is an important part of the government’s long-term economic plan, with custom build a key part of that.

The custom and self build industry currently accounts for around 10,000 new homes every year – but the government is backing industry-led efforts to double that by 2020.

The £150 million fund is open to small builders and community groups as short-term loans to help get the land ready for housebuilding. The land can then be sold as individual plots to people looking to build their own home.

Brandon Lewis said: “Custom build should not be something that’s confined to a small and select group of people – anyone who aspires to build their own home should have the opportunity to do so.

We want to see the industry grow significantly and this £150 million fund will help further unlock the massive potential it has to help even more people achieve their ambitions.

This fund will help create shovel-ready serviced plots so small developers and custom-builders can get on and build, finishing their projects more quickly.”

Unused public sector land will build over 100,000 new homes

Unused public sector land will build over 100,000 new homesEnough unused public sector land has been released to build over 103,000 new homes, Communities Secretary Eric Pickles announced today.

The amount of land sold by the government surpasses the original commitment set by the Prime Minister, and is expected to rise again by the end of March this year.

Now, the government is calling on councils and developers to help turn it into housing as soon as possible, and is urging local authorities up and down the country to follow this example and sell their redundant sites and buildings.

Communities Secretary Eric Pickles said: “House building is at the heart of the government’s long-term economic plan. That’s why, rather than leaving surplus public sector land idle, we are putting it to good use by releasing it to build new homes across the country.

This is part of wider efforts that have got Britain building again, leading to the delivery of 700,000 new homes since the end of 2009.

I now want to see councils following Whitehall’s example and explore what they can do to release land and deliver new homes and savings for local taxpayers.”

Housing Minister Brandon Lewis said: “Housing starts are at their highest annual total since 2007, but it’s clear we need to maintain this momentum and build the homes communities want and need.

That’s why for the last 4 years we’ve pulled out all the stops to release formerly-used surplus public sector land for house building – meaning we have now exceeded our own target.”

Getting the country building again

Building IndustryThe amount of land sold by the government surpasses the original commitment set by the Prime Minister in June 2011, and is expected to rise again by the end of March this year. On top of this, there are plans to release land with capacity for 150,000 homes between 2015 and 2020.

The government has already taken major steps to boost house building and get more people into a home of their own – simplifying the planning system, making it easier to convert empty buildings into new homes and prioritising development on brownfield land.

Right to Buy scheme helps build thousands of new homes

Right to Buy scheme helps build thousands of new homesMore than 33,000 new homeowners have been created through the reinvigorated Right to Buy since 2012, paving the way for jobs in the construction industry.

Housing Minister Brandon Lewis welcomed the news as a further sign of how government action is helping people get on and move up the housing ladder.

He announced that Right to Buy discounts will increase again in April 2015, so more people have the chance to buy their home. Right to Buy eligibility is also being extended through a new law before Parliament.

Council house building starts are now at a 23 year high and almost twice as many council homes have been built in the last 4 years than from 1997 to 2009. Previously, councils were not encouraged to build new homes from sales receipts and only 1 new council home was built for every 170 Right to Buy sales completed.

Since the Right to Buy was reinvigorated, £730 million in sales receipts is being re-invested in house building; levering a further £1.7 billion of investment over the next 2 years. This means that in total, over £2.4 billion will be raised to invest in affordable house building as a result of the as a result of Right to Buy.

Housing Minister Brandon Lewis said: “The Right to Buy gives something back to families who worked hard, paid their rent and played by the rules.

It allows them to do up their home, change their front door, improve their garden – without getting permission from the council. It gives people a sense of pride and ownership not just in their home, but in their street and neighbourhood.

Thanks to this government’s long-term economic plan, we have created over 33,000 homeowners through the Right to Buy, which has generated £2.4 billion of additional investment in new affordable housing.”

House building continues to climb

House building continues to climbHousing Minister Brandon Lewis has welcomed new figures showing a rise in the numbers of homes being built across the country.

The latest house building figures show starts on new homes in 2014 totalled 137,010 – 10% higher than in 2013 and at their highest annual total since 2007.

New figures show that overall 700,000 new homes have been delivered since the end of 2009 – and over 200,000 of which have been since the launch of the Help to Buy scheme.

Housing Minister Brandon Lewis said: “We inherited a broken housing market in which builders couldn’t build, lenders wouldn’t lend and buyers couldn’t buy. We’ve done a lot to help get the housing industry back on its legs, but there’s more to do.

Today’s figures show we’re on track and turning this around. Now, house building levels are at their highest annual total since 2007, and first-time buyers are getting on the property ladder in record numbers.

This is thanks to our long-term economic plan and efforts to tackle the deficit we inherited, which are keeping interest rates at their record low and mean now is the best time on record to take out a mortgage.”

Homes built across the country

Croydon, where starts increased by 251% from 593 in 2013 to 2084 last year

Cornwall, where starts increased by 58% from 2,465 in 2013 to 3,892 last year

Leeds, where starts increased by 84% from 1,349 in 2013 to 2,480 last year

Bradford, where starts increased by 171% from 523 in 2013 to 1,417 last year

Selby, where starts increased by 296% from 279 in 2013 to 1,106 last year

New homes set to be built in Manchester

New homes for rent in Greater ManchesterHousing Minister Brandon Lewis has announced a multi-million pound deal that will provide nearly 800 homes specifically for private rent in Greater Manchester.

The minister welcomed this latest deal through the government’s £1 billion Build to Rent scheme, which is well on track to build 10,000 new homes for private rent.

The move is the latest in a series of steps this government has taken to get Britain building – creating jobs and providing homes while boosting the building trades.

New homes in Manchester and Salford

The Build to Rent fund is designed to help developers produce large-scale, quality homes, specifically for the private rented sector.

Under the terms of today’s agreement, developers Renaker will receive £55 million to build 779 new homes across 2 sites in Manchester and Salford.

Each site will include a mix of 1, 2 and 3-bedroom properties. Work is already underway, and is expected to be completed by the middle of next year.

Housing Minister Brandon Lewis said: “Millions of people use the flexible option of renting so I’m determined to create a bigger, better private rental market offering greater choice for tenants.

This extra money will not only create 800 more homes for the people of Manchester and Salford, it will also create jobs and security for hardworking people – a vital part of our long term economic plan to secure a better future for Britain.”

Chief Executive of the Homes and Communities Agency Andy Rose said: “This is a major investment in the private rented sector in Manchester. It demonstrates how the HCA, working closely with partners, is combining financial and local expertise to increase the private rented choice in areas where there is a high demand for homes.”

Help to Buy sales hit 73,000 homes

The number of people joining the housing ladder continues to grow as new figures show more than 73,000 homes have been bought under the government’s flagship Help to Buy schemes.

With housebuilding at its highest level since 2007, Housing Minister Brandon Lewis said the figures demonstrated how the schemes were getting the country building, as part of the government’s long-term economic plan.

Mr Lewis said: “Our long-term economic plan has turned this country around from the one we inherited, suffering from a crashed economy and a housing market where builders wouldn’t build, lenders wouldn’t lend and buyers couldn’t buy.

Now numbers of first-time buyers are at their highest since 2007, housebuilding continues to climb and planning permissions are at record levels.

All these measures combined are helping record numbers of people into a new home, including 73,000 households benefiting from Help to Buy and we will keep striving to get that total even higher.”

The figures show that more than 38,000 households have been supported by the government’s Help to Buy (equity loan) scheme, with the average price of homes under the scheme £212,000, well below the £271,000 UK average. The scheme has also brought down the average deposit needed.

Government schemes represent only part of the total, with Halifax figures this week showing 326,500 first time buyer purchases last year, up 22% on 2013.

The Help to Buy (equity loan) scheme was introduced (along with other Help to Buy products) to support people who can afford a mortgage, but struggle to save the deposits required by lenders in the wake of the financial crisis.

As it applies to new build homes it creates much needed new housing to meet long term need, and stimulates economic growth by creating and protecting up to 76,000 construction sector jobs.

National success story

The figures show the government schemes are helping every part of the country, with some of the main towns and cities benefiting from the Help to Buy (equity loan) scheme being:

  • Leeds – 628 sales

  • Milton Keynes – 516 sales

  • Peterborough – 512 sales

  • Birmingham – 465 sales

  • Bedford – 454 sales