Autumn Statement: 40,000 new homes is not enough say estate agents

A much-anticipated part of the Chancellor’s Autumn Statement to boost housebuilding with funding to deliver 40,000 new homes is “painfully short” of what’s needed, says the National Association of Estate Agents.

The Chancellor is expected to announce £1.4bn to deliver these new “affordable” homes as a mix of tenures, when he delivers his first Autumn Statement later today.

“We welcome the news that the Chancellor is set to announce a £1.4bn funding injection for house building, while a relaxation of how existing affordable housing funding can be used will help to diversify our housing mix, creating the homes that people want and need,” said Mark Hayward, the NAEA’s managing director.

“However, the creation of 40,000 new homes that this new funding is expected to deliver is still painfully short of the number of affordable homes we need to solve the housing crisis and get first time buyers on the housing ladder.

“We hope that the Government will announce an intent to do much more when it releases a widely expected White Paper at the Autumn Statement today. It is vital that the Government uses this to signal a radical rethink in its housing strategy and consider measures such as building homes on unused Green Belt land to really kick start the house building boom we badly need.”

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