8 industry news PRIME MINISTER VISIT
Cameron tours Crest Nicholson development on eve of vote
ment designed to be highly sustainable – Crest Nicholson’s Tadpole Garden Village in Wiltshire. Tadpole Garden Village is one of the only developments in the UK which will be delivered
O HELP TO BUY INVESTIGATION
First-time buyers priced out of Help to Buy P
otential homeowners in large parts of England are being priced out of Help to Buy, the Government’s scheme to help
first-time buyers, according to an investigation by BBC South East. The Help to Buy Individual Savings Account
(ISA) was introduced last year to help young people save for a home. First-time buyers save their deposit into a tax-free savings account and
get a 25 per cent bonus, up to a maximum of £3,000, when they buy their home. The bonus is only available if the purchase
price does not exceed the capped limit of £250,000 or £450,000 in London. However, in many areas of the south east of the UK, the aver- age price of a starter home exceeds the cap, the investigation found. Interviewed by BBC South East, the
n the day before the EU Referendum, the then UK Prime Minister David Cameron paid a visit to a new develop-
on the basis of Garden Village principles. Crest Nicholson CEO, Stephen Stone said:
“Government support has brought much needed stability to the housing market. The industry has responded by growing volumes and creating many highly skilled jobs, apprenticeships and new career opportunities for young people.”
Chancellor George Osborne defended the initia- tive: “Hundreds of thousands of people have made use of the Help to Buy ISA. What we wanted was for it to be available to people getting on the housing ladder, rather than for people buying more expensive homes.” He added: “There are homes available but of course as the scheme goes from strength to strength we can always look at ways to improve it.”
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