16 Apr

Housing a major issue ahead of election

Housing a major issue ahead of election

The major parties are outlined their plans for the housing market ahead of next month’s general election.

Current prime minister David Cameron confirmed the Conservative Party would continue the popular Right to Buy scheme if re-elected.

An extension of £18 billion is expected to support the expansion of the initiative to cover a further 1.3 million people living in housing association properties. It would require councils to sell off expensive social housing properties when they become more vacant and replace them with affordable homes.

The Labour Party has committed to building at least 200,000 new homes per year by 2020 to help boost choice for first-time buyers. Other plans for the party includes the introduction of three year housing tenancies with a limit on excessive rent increases.

Meanwhile, the Liberal Democrat want to build around 300,000 more homes per annum to help provide affordable homes for more people.

The party also plans to build a further ten new garden cities to increase the housing stock in England and provide new infrastructure in key areas.

Other announced initiatives for the creation of a new Housing Investment Bank to provide more financial support for new housing developments and a new Rent to Own scheme that would allow monthly rent payments to be used towards securing a home.

"Liberal Democrats believe everyone should have the opportunity to have a decent home at a cost they can afford. That's why we have increased house building in government but we want to go much further. And we will help young people who want a home of their own with radical plans to help them buy or rent," said deputy prime minister and leader of the Liberal Democrats Nick Clegg.

The general election will take place on Thursday May 7th.ADNFCR-1222-ID-801783818-ADNFCR

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