David Lammy – 2016 Parliamentary Question to the Department for Communities and Local Government
The below Parliamentary question was asked by David Lammy on 2016-05-09.
To ask the Secretary of State for Communities and Local Government, what estimate his Department has made of the average price of affordable starter homes that will be built in (a) Tottenham, (b) Islington, (c) Barnet, (d) Haringey, (e) Enfield and (f) London in (i) 2016 and (ii) each of the next four years.
Brandon Lewis
The Starter Homes policy is expected to deliver at least a 20% discount from market value on new homes built for first time buyers under 40 years of age. We recognise that first time buyers can face affordability pressures within parts of London which is why we want Starter Homes to make a significant contribution to housing delivery. The London £450k price cap is not an expectation of the going price for a Starter Home. In London in 2014, the average price paid by a first time buyer was £364k – which would equate to a starter homes price of £291k. We are consulting on starter homes regulations which will set the requirement for starter homes and any exemptions. The Department does not make assessments on the number of starter homes that are to be built by local authority area.
