Battle on the home front
Jan 25 2005 By Zoe Hughes And Graeme Whitfield, The Journal
Housing plans
John Prescott yesterday unveiled his five-year housing plan, saying he wanted to help low and middle income families take their first step on to the property ladder.
The Deputy Prime Minister announced a package of measures to increase the number of new homes being built across the country - including plans to help 300,000 council and housing association tenants buy a stake in their home.
* Under a new Homebuyscheme, tenants will be able to buy a share of their house at a discount price with the chance of building up equity until they become owners outright.
Although it will not start until April 2006, the discount could be worth up to £16,000. Housing associations and councils will have first refusal if the equity-owners later want to move or sell their stake.
* Mr Prescott also set out proposals to increase the number of social houses on the market: 10,000 each year by 2008 - 50pc up on current rates.
* It came as he unveiled new rules that would see an increase in the density of new housing developments and tighter restrictions for building on green belt land.
Planning laws would also be modernised for homeowners wanting to carry out minor improvements to their property, with the amount of red tape dramatically cut.
