Starter Home Discounts 'Should Be Permanent'

Starter Homes would remain discounted at 20% below market value in perpetuity, under a Labour amendment to the Housing and Planning Bill. The amendment, tabled by shadow housing minister John Healey, is part of a group of changes to the bill put forward by the party, which voted against the bill at second reading on 2 November. The Housing and Planning Bill encourages the supply of Starter Homes – properties sold at a 20% discount to first-time buyers under 40 years old. Under government plans, people who buy the homes will be able to sell the properties for their full market value over five years. However, Labour’s amendment would require the reduction of 20% below market value for Starter Homes to remain in perpetuity. Read more on Inside Housing.