A new website has been launched to help young people in the UK register their interest in purchasing a starter home.
The site at www.starter-home.co.uk appears in the wake of new rules that cut planning requirements for the new Starter Homes, enabling the builder to reduce the usual sell price by 20%. Construction on the first homes is expected to begin in a few months.
This initiative is the latest government-driven push to get the country building and help young people get on the property ladder. The potential discounts are around £100k per property.
First-time buyers in England pay an average of £218,000 per house. A Starter Home could represent savings of £43,000, making it easier for them to attain their dream of home ownership.
Changes in planning policy are now allowing builders that develop industrial and commercial land that is either surplus or unusable to save on costs by freeing them from the obligation to provide affordable housing. In exchange, they will have to offer the completed homes at a discount of at least 20% to the market prices for first-time homebuyers under the age of 40.
Britain’s foremost housebuilders and councils have already stated that they would consider making land available to develop the new houses from this year. They will now be able to start submitting their plans to get construction started and pass the savings on to buyers as quickly as possible.
A Design Panel consisting of well-known architects such as Sir Quinlan Terry and Sir Terry Farrell have chosen home designs from across the UK for builders to choose for Starter Homes developments.