The first wave of Starter Homes will be sale-only
products, reigniting fears over their distorting effect on local housing
markets. Housing minister Gavin Barwell had suggested some ‘Starter Homes’
would be rent-to-buy products. The government has confirmed that all homes
built on brownfield sites by the 30 partner councils would be entirely for-sale
products. These councils will use a share of £1.2bn of government cash to prepare
brownfield sites for large developments of the homes, which will be sold at 80%
of market value. Experts warned these units could be almost impossible to value
against market rates and may even create a sub-market for Starter Homes, as
demand for these cheaper properties spirals, skewing prices. Read more on
Inside Housing.
No comments:
Post a Comment