Property North Wales

300,000 New Homes to be built on Brownfield Sites

The Future Homes Commission, which is part of the Royal Institute of British Architects, has issued a report to the government calling for 300,000 new homes to be built on brownfield land in Great Britain. This is great news for housing developers in Colwyn Bay who will be able to take advantage of the new proposals and the tax payer will not have to pay for the developments, as it will be old government owned industrial land that is being reused.

As well as creating homes for 300,000 families, tens of thousands of construction jobs will be created as a direct result of the report, as homes will be built in close proximity to every town, city and village spanning the United Kingdom.  The current figure for new homes being built in the United Kingdom currently stands at 100,000 every year. 

A Local Housing Development Fund worth £10 billion pounds will be used to kick start the scheme and would be financed and owned by the local authority pension fund.  The report highlighted the fact that developers need to make sure that the new homes are designed with longevity in mind and that they meet residents needs for generations to come. The surrounding communities will also be taken into account so that a quality of life will be maintained for all in the area.

The government have recently introduced a range of measures with housing developers in mind. These include investing 19.5 billion of public and private funds into an “Affordable Housing Programme”, offering developer’s £10 billion pound loan guarantees to get more homes built for rent and selling purposes as well tempting developers to use former public-sector owned land with build-now-pay-later deals to get workers on sites and extra homes built.  

The Future Homes Commission report is good news for the area as there have been concerns about the lack of affordable homes in the Conwy area.  As it stands there are 1000 homes in the county which have been empty for six months or more and measures are being taken by the council to monitor these properties. In August it was announced that 2.35 million pounds of funding is going to be injected into an Empty Homes loan scheme to bring long term empty dwellings back into use. House building has the potential to drive economic growth in the area and by giving housing developers in the area the financial incentive to build new homes then both families and developers stand the chance of benefitting in the long term.

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