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£20m Grant For Cheaper Homes Plan In Northampton

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http://news.bbc.co.uk/1/hi/england/northam...ire/5035104.stm

£20m grant for cheaper homes plan Thursday, 1 June 2006, 06:13 GMT 07:13 UK

A £20m grant has been awarded to help build 500 more affordable homes in Northamptonshire.

The funding for the Northampton homes, to built over the next two years, comes from the government's National Affordable Housing Programme.

Northampton Borough Council said there are more than 6,500 people waiting for council houses compared to 10 years ago when there was fewer than 3,000.

The homes will be built by housing associations working with the council.

'Good time for funding'

Over the past few years several developments have been created including the Extra Care retirement village in Duston and the Upton development providing more than 1,000 one new homes.

Councillor John Caswell, Northampton Borough Council cabinet member responsible for housing strategy, said: "The award couldn't come at a better time.

"We know there is a need for more affordable housing and this money will provide over 500 new homes within the next two years.

"We have worked closely with our housing association partners and are absolutely delighted with the outcome of the bids."

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What impact will this have on the local Northampton market? :huh:

HD

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What impact will this have on the local Northampton market? :huh:

There was £22 million allocated for cheap homes in Leicester. The plans are to build nearly a thousand new homes in Leicester and surrounding villiages/regions. The expected sale prices for these homes don't seem cheap to me, but the typical rents considerably undercut (maybe a third) the current private sector rents for similar properties.

With all the other factors affecting the rental market around here (student housing, too many new build flats), I think it's the rental market which will feel the biggest effect from these new houses.

Billy Shears

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The joys of living in a county of marginal constituencies.

With all the other factors affecting the rental market around here (student housing, too many new build flats), I think it's the rental market which will feel the biggest effect from these new houses.

...which in time will impact on the prices of FTB and BTL property.

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It will have no impact in the longrun, pouring more money into the system is simply inflationary, and if there is an artificial price differential somebody will simply arbitrage it away. The problems are simply due to lax lending and inflexible supply, no amount of farting about on the edges will get you past those two issues.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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