Cameron’s crusade ‘Homes to Buy’

Prime Minister promises 200,000 starter homes.

In David Cameron’s closing speech to the Conservative Party Conference tonight, he will promise to launch a crusade of house building, intended to change “generation rent to generation buy”.

Promising to build some 200,000 affordable new homes by 2020, the speech will outline Cameron’s plans to allow these homes to be built.

Part of the plan will relax rules for new house build so developers are no longer required to build a certain proportion of properties as affordable homes for rent.

Mr Cameron believes that this rental-only requirement means developers are reluctant to invest in new properties which will take time to turn a profit. Instead they will be able to build low-cost homes for sale.

Mr Cameron will tell his party members: “When a generation of hard-working men and women in their 20s and 30s are waking up each morning in their childhood bedrooms – that should be a wake-up call for us.

“We need a national crusade to get homes built. That means banks lending, Government releasing land and – yes – planning being reformed.

“For years politicians have talked about building ‘affordable homes’ – but the phrase was deceptive. It basically means homes that were only available to rent. What people want are homes that they can actually own.”

Together with The Starter Homes scheme, which requires properties to be offered for sale at a discount of 20% below market rates, up to £450,000 in London and £250,000 outside the capital, to first time buyers under 40, Mr Cameron hopes to leave a legacy after he steps down as leader.

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