The Welsh Government have announced the country’s Help to Buy scheme is on course to build 5000 new-build properties. Leslie Griffiths, Communities Minister, confirmed that 1000 homes have been completed since the launch of Help to Buy. Ms Griffiths commented that another 400 homes are now in the immediate pipeline.
“As well as helping people buy a new home, the scheme has also proved to be great news for the industry, with builders of all sizes across Wales now offering Help to Buy - Wales shared equity loans on their properties.”
There was also good news for construction workers in the South of England as Boris Johnson, the Mayor of London, confirmed that there are separate plans to offer additional support to the capital’s home-building industry and announced that a further £180 million of financial support is set to be channelled into the city’s First Steps Challenge Fund, which forms part of the Mayors wider plans to provide low-cost housing solutions to 250,000 people by 2025.
Figures suggest that 4,000 new homes will be delivered before 2020 through the Challenge fund alone.
Mr Johnson was keen to highlight the importance of shared ownership agreements.
He said: “Shared ownership is crucial in helping the unprecedented numbers of people in London desperate for good-quality, low-cost housing.”