Housing Strategy: Shapps Sets Out Target for 200,000 Homes A Year

Grant Shapps wants to double the number of homes being built each year to alleviate the country's housing crisis. The number of houses built in England fell to a record low of just over 100,000 in 2010, the lowest overall number in any peacetime year since 1923. The Government will today (21 November) publish its long-awaited housing strategy setting out plans to increase supply over the next four years. The plans include;
*Using the Right to Buy proceeds to build 100,000 extra homes which be let at rents up to 80% of the market rent.
*Giving public sector land to developers and housing associations on a 'build now pay later' basis - which is expected to create 100,000 more homes.
*A £400 million fund to target housebuilding schemes that have stalled through a lack of development finance. The fund aims to "unlock" the construction of up to 16,000 homes, around 3,200 of which will be affordable properties.
This will be alongside measures already announced including a £1.8b billion fund to help build 170,000 homes up to 2015 - which will be mainly delivered by housing associations. Read more on 24dash.