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In response to confirmation of a Planning Bill in the Queen’s Speech, Steve Collins, CEO of affordable housing provider Rentplus, said:
“With the introduction of the 95% deposit mortgage scheme and the stamp duty holiday, house prices have soared to unprecedented levels. Without a sufficient system of ensuring supply can keep up with demand, the current rapid inflation will further lock out those on low to middle incomes from getting a foot on the property ladder.
“Currently, out of date local plans mean councils are not accepting new applications for privately funded affordable housing schemes. We welcome the requirement for all local authorities to have up to date local plans. In order to tackle the affordability gap, it is imperative that local authorities capitalise on the opportunity to ensure more affordable housing tenures are included, including those funded privately.
“These schemes continue to play a significant role in boosting the overall number of homes particularly for first-time buyers on lower incomes, helping reduce demand for social housing by removing aspirant homeowners from waiting lists. Increasing investment from the private sector in affordable housing will be a key means by which the government can deliver on its promise to help more people to own their home.”