Labour Peer Calls For Answers On Starter Homes

A senior Labour peer has called on the government to explain what is happening with Starter Homes. The Housing and Planning Bill introduces the government’s flagship homeownership policy. Under the policy, first-time buyers under 40 years of age can buy a property with a 20% discount. Major lenders are concerned that buyers would be able to sell their Starter Homes at full market value after five years and make a profit and that this would distort the market and incentivise people to overpay, and have warned the government that they will not support the scheme as it stands. Most major lenders want the 20% discount to be held in perpetuity or for the period where the discount applies to a resale to be extended. Read more on Inside Housing.

DECC Research Shows Link between EPC Rating & House Prices

Not only do energy efficiency measures such as wall insulation, double glazing and energy efficient boilers help reduce energy bills, they also contribute towards higher resale values. A study, compiled by DECC, found that dwellings that were rated with an EPC of D were sold for 8% more than those with a G, and ratings of A/B were sold for 14 per cent more than the lowest rated houses. The report shows that there is a positive relationship on the effect of EPC’s ratings on house prices. It analysed repeat sale transactions from 325,950 dwellings in England from 1995 to 2011. Sale prices were taken into consideration along with dwelling attributes, detailed information on the EPC ratings and a multitude of socio-economic variables. Read more and download the report on the Sustainable Homes website.