The Government has given Great Yarmouth Borough Council a welcome £1/2 million boost, as part of the New Homes Bonus.
The New Homes Bonus is a multi-billion pound programme that rewards communities when they accept more housebuilding in their area, with extra reward for building new affordable homes, and for getting long-term empty homes back into use.
This is just one of the policies the Government has introduced to help resolve the current housing crisis. These changes include:
- helping first-time buyers onto the housing ladder through lower deposit requirements;
- handing over disused public land for 100,000 new homes; and
- ending a long-standing ‘tax on tenants’ in a £19 billion deal enabling councils to keep the rents they collect and invest the money in homes.
Labour led Britain into a housing crisis – the number of affordable homes fell, waiting lists almost doubled and first-time buyer numbers collapsed to their lowest level for a generation. Housebuilding is already up a quarter under the Coalition Government, but there is more to do. This funding for new homes in Great Yarmouth is just the start.