On Friday I visited new homes under construction by Crest at Arborfield Green, in order to accompany the Secretary of State for Communities and Local Government. He was on a visit to launch the government’s new policy of promoting more affordable homes for purchase.
He used his visit to Wokingham to launch a new scheme which can offer a discount of up to 30% on the price of a new home for a first time buyer from the locality or a key worker like an NHS medial professional or teacher.
I also talked to the Crest staff about local issues connected to traffic, water management and pace of development.
February 10, 2020
Why are these first time buyer schemes only aimed at new properties?
New properties tend to be smaller and less well built than older properties.
Is Government propping up the new build market?
February 10, 2020
There is a big danger when taxpayer money is given away like this.
First and foremost it has been shown over and over again it favors those that could already afford the purchase being subsidized by those that never have the chance to purchase.
At the very least any such taxpayer hand out should refunded should those that benefited wish to move on within 7-10 years.
It needs real clarity of purpose not just the stroking of political egos.
As it stands I could fund my sons purchase of one of these properties, take the discount, sell up and use the gain for another property for my daughter. On and on
February 10, 2020
A bit like the old Council house discount system of years past, the renters in many cases did not purchase the house they were renting, but the family (to choose a term for sons and daughters) certainly did, and a very nice windfall some of them made out of it in later years as well.