First-time buyers, high streets, empty homes targets of Labour promises
Summary
The government has announced a package of housing and regeneration measures aimed at first-time buyers, high streets and empty homes. The proposals include a new government-backed equity loan scheme for new-build purchases, funding for high street property reuse, and reforms to Empty Dwelling Management Orders to make it easier for councils to bring vacant homes back into use.
Why it matters
These measures may affect demand for new-build housing, local regeneration activity and the treatment of long-term vacant stock. Surveyors may see implications for valuation assumptions, redevelopment potential and local authority intervention in empty properties.
Key points
- A new 20% government-backed equity loan scheme is planned for first-time buyers of new-build homes.
- The scheme will require a minimum 2.5% deposit and include income and deposit caps.
- £210m has been allocated across several high street regeneration programmes, including funding for derelict buildings and rental auctions.
- Empty Dwelling Management Order rules have been relaxed, reducing the vacancy period trigger from two years to six months.
- Councils will no longer need evidence of anti-social behaviour or community support to issue an EDMO.
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