7
May
New housing strategy announced
Some 654,000 new homes will be delivered in the south-east between
now and 2026 as part of a new government scheme.
Communities minister Sadiq Khan announced this week that these
properties will help the area meet its long-term housing
needs.
The politician said that the south-east requires "a long-term
strategy" to boost the local economy and address housing shortages
in the region.
More affordable homes for first-time buyers may emerge on the
market as part of the new plans, and with interest rates widely
predicted to remain at 0.5 per cent for the remainder of the year,
now could be a good time to purchase property.
"The number of households in the south-east is growing rapidly with
housing supply lagging behind and housing affordability worsening,"
explained Mr Khan. "Despite the current difficulties in the market
we need to keep up with the rise in demand and provide more
homes."
In addition to the delivery of more housing, the new initiative
will see more jobs created and an overall improvement in the
region's infrastructure.
