Local housebuilder Barratt Homes welcomed the Chancellor Philip Hammond’s Autumn Statement last week (23rd November 2016), in which the Government stepped up its housing drive, in particular to help aspiring home owners.
Several measures were announced which could benefit prospective house buyers in Kent, including a £2.3 billion housing infrastructure plan to help build 100,000 new homes in areas of high need. There will also be a new Housing White paper introduced that aims to address what the Chancellor described as the ‘urgent challenges’ in the housing sector. The popular Help to Buy equity loan scheme enabling people to buy a new home with just a 5% deposit and the Help to Buy Isa are also to remain in force.
With Kent continually proving a popular option with buyers who cannot afford to buy or upsize in London, where the average house price now stands at almost £600,000*, Barratt Homes, is confident that the Government’s renewed effort to build more homes and incentivise aspiring buyers, will benefit current and aspiring home buyers in Kent. Barratt is currently building a range of new homes in Kent, including 230 new homes at its Aylesham Village development in Aylesham near Canterbury, as well as at other key developments, including Phoenix Quarter in Dartford and Tower Hill in Belvedere.
Mark Bailey, Managing Director for Barratt Kent says; “It’s good to see continued government focus on housing supply, it is vital that we continue to build quality new homes to tackle our housing shortage. We welcome the additional infrastructure funding to encourage growth in areas of high demand such as Kent, it remains important that both local and county authorities in these areas plan positively for growth and bring forward land for new homes.”
Barratt is offering the Help to Buy equity loan scheme at each of its developments, allowing homebuyers to secure a home up to the value of £600,000 with only a 5% deposit. The Government lends the buyer 20% of the value of the property in the form of an interest free equity loan for five years.
Details about Barratt homes currently available in Kent can be found at www.barratthomes.co.uk.