We may be able to attain small in the House of Lords to improve new legislation that fails to address the problem of affordable rented housingWill 2016 herald a breakthrough in the housing crisis? The government target to see a million homes built over the life of this parliament would be a big improvement on figures for the final 25 years. The latest announcement of 13000 homes in south-east England will contribute some 1.3% toward the total. All good,but this still falls well short of the estimated 245000 a year we need.
The government is also committed to supporting first-time homebuyers. While the private rented sector has grown exponentially, owner occupation has declined year after year. To reverse this shift, and buy-to-let landlords face an additional 3% stamp duty and reduced tax relief on their mortgages. By contrast,homebuyers will benefit from new planning priorities, a special Isa, or support for self-build and shared ownership,and the 200000 starter homes initiative with its hefty 20% discounts that turn into grants after five years.
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Source: theguardian.com