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Briefing Paper on impact of Housing and Planning Bill

A parliamentary briefing paper has been published that discusses the proposals in this key housing bill. The quote summarises the main housing related initiatives.

aims to provide a number of Starter Homes for first-time buyers under the age of 40. Starter Homes would be sold at a discount of at least 20% of the market value.

will not introduce a statutory Right to Buy for housing association tenants but aims to provide grants to be paid to associations to compensate them for selling homes at a discount.

Local housing authorities will be required to make payments to the Secretary of State calculated on an authority’s high value housing stock with the expectation that the stock will be sold when vacant.

‘High income’ social tenants (likely to be set at £40,000 in London and £30,000 elsewhere) will be expected to pay a market rent as opposed to a social rent.”