LONDON: The British Property Federation has welcomed Housing Minister Grant Shapps' New Homes Bonus announcement, that will see government match the council tax raised from new homes for the first six years. Please find CLG press release with further details below.
Liz Peace, chief executive of the British Property Federation, said: “Existing local communities need to see they are getting something back from additional housing development and so the BPF very much welcomes today’s announcement. The New Homes Bonus sends a clear signal that those communities accepting desperately-needed housing will be rewarded while those that do not have that choice, but will lose out.
"Subject to getting the detail bottomed-out we are delighted the Government is also considering extending the New Homes Bonus to long-term empty property. Returning empty property to use is very resource-intensive for local authorities and this additional source of funding comes just at the right time with redevelopment often more viable than newbuild.”
Housing Minister Grant Shapps has pledged cash for communities who allow new homes to be built in their area. Almost £1bn of government funding has been set aside for councils that welcome new housing development, which they will be able to spend to benefit their local community.
In proposals that will be published for consultation, the Minister will announce that the Government will match the council tax raised from new homes for the first six years through the New Homes Bonus.
Councils and communities will work together to decide how to spend the extra funding – whether council tax discounts for local residents, boosting frontline services like rubbish collection or providing local facilities like swimming pools and leisure centres.
