Britain’s Chancellor George Osborne is staking his reputation on a plan to build 400,000 new homes by 2020.
It’s a massive gamble, but it’s one that isn’t without precedent. Back in 1951, the then Conservative Minister of Housing, Harold Macmillan, did something very similar. Six years later, Macmillan was Prime Minister.
Osborne announced in Wednesday’s spending review statement that he plans to build 400,000 new “affordable” homes in England over the next five years.
Around £4 billion of government cash will be used to help public and private house builders construct 135,000 homes that will be sold into shared ownership. A further £2.3 billion will ensure that 200,000 homes will be built for first-time buyers and sold to them at a discount. Additional funding will be put towards the construction of specialist homes for the elderly and those with disabilities.
I believe that this strategy will be supported through the increased uptake of Off-Site methodology. Premier Modular is well placed to help deliver this vision with their high quality affordable housing product.