The target for new homes could rise by 250,000 to three million by 2020 under draft plans from Prime Minister Gordon Brown.
Breaking with tradition, Mr Brown announced 23 bills and draft bills to MPs today, ahead of the Queen’s Speech in the autumn – putting housing firmly at the top of the agenda.
“Putting affordable housing within the reach, not just of the few, but the many, is vital both to meeting individual aspirations and a better future for our country,” said Mr Brown.
In order to achieve this, the target for new homes by 2020 has been raised to three million, increasing the annual target from 200,000 to 240,000 from 2016 onwards. Up to 100,000 homes could potentially be built on surplus sites owned by government bodies such as the Ministry of Defence.
Other plans include the introduction of Home Information Packs and covered bonds, intended to facilitate mortgages at fixed rates over periods of up to 25 years.
Is this good news for builders merchants and their suppliers or, like David Cameron, do you think “we’ve heard it all before”? Post your comments in the box below.