Government Suggests 20 Per Cent Discount on New Builds for Locals

By Gary Cutlack on at

The posho junta currently in charge of the UK is thinking of ways to enliven the housing market so that the buildings are not all owned by old people, and has suggested a scheme where new build developments may be obliged to sell a proportion of their homes to locals at a discount of perhaps as much as 20 per cent.

Only first-time buyers currently living near a site would qualify, so that'd stop the aspiring landlords from getting in on the scheme. A reworking of shared ownership rules could be on the cards too, with buyers perhaps able to increase their share of their homes in one per cent increments, rather than today's oppressive chunks of ten per cent.

Housing secretary Robert Jenrick said: "I want young people to be able to stay in their communities. It's not right that people on low incomes risk being forced out. What a difference it might make to the planning system if existing residents knew that a good proportion of new homes would be sold at discounted prices to local people trying to get on the ladder."

Which is nice, although it could also mean he wants people to know their place and stop aspiring to buy nicer houses in nicer places, where him and his mates are buying them all up to rent out to a minimum of 12 students per dwelling, yielding comfortable retirement level returns. Can't tell with these people, can you? [The Times]