1-6 of 6 results for subject:"Owner occupation"
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To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment he has made of the level of home ownership in (a) Coventry North East constituency and (b) Coventry in each of the last three years.
To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment he has made of the level of home ownership in (a) Coventry North East constituency and (b) Coventry in each of the last three years.
DLUHC publishes estimates of first-time buyer numbers as part of the English Housing Survey. See Chapter 3 and Annex 3.2 in: English Housing Survey2022 to 2023: headline report - GOV.UK. The Government does not hold data that is specific to (a) the Coventry North East constituency and (b) Coventry.
The Government has a range of schemes available to help improve access to home ownership, including First Homes, Shared Ownership, Right to Buy, the Mortgage Guarantee Scheme and the Lifetime ISA. We have also doubled the threshold for Stamp Duty and expanded First Time Buyers Relief.
To ask the Secretary of State for Housing, Communities and Local Government, what steps his Department is taking to support homeownership in (a) Coventry North East constituency and (b) Coventry.
To ask the Secretary of State for Housing, Communities and Local Government, what steps his Department is taking to support homeownership in (a) Coventry North East constituency and (b) Coventry.
First Homes, our new home ownership scheme, will be prioritised for first-time buyers and will allow them to buy a new home with a discount of at least 30 per cent under market value. In some areas, the discounts could be as high as 50 per cent. This will significantly reduce both deposit and mortgage requirements and open up the dream of home ownership to even more people.
Our new Help to Buy Equity Loan scheme from April 2021 to March 2023 will be targeted at helping first-time buyers to get a foot on the property ladder. In Coventry local authority area, 2,032 households have purchased through Help to Buy: Equity Loan, of which 1,821 have been first-time buyers
As set out in the Conservative manifesto of December 2019, the Government will encourage a market in long-term fixed rate mortgages with low deposits to promote home ownership. We stand ready to work with the sector to explore the possible options to bring these products to market.
The Government is committed to supporting the supply of new homes, delivering around 244,000 last year, the highest in over 30 years.
We are bringing forward an ambitious nearly £20 billion investment, including over £12 billion in Affordable Housing over 5 years, and over £7 billion to both unlock new land through the provision of infrastructure and also diversify the market through our National Home Building Fund. Alongside our reforms to the planning system, this will deliver the new homes the country needs.
To ask the Secretary of State for Housing, Communities and Local Government, what assessment he has made of trends in home ownership for people on low incomes in (a) England, (b) the West Midlands, (c) Coventry and (d) Coventry North East constituency over the last five years.
To ask the Secretary of State for Housing, Communities and Local Government, what assessment he has made of trends in home ownership for people on low incomes in (a) England, (b) the West Midlands, (c) Coventry and (d) Coventry North East constituency over the last five years.
The English Housing Survey is a continuous national survey that reports on housing trends at the national and regional level. Published tables, including the annual Headline reports, can be found at: https://www.gov.uk/government/collections/english-housing-survey.
The English Housing Survey is not designed to provide data at a sub-regional level.
What assessment he has made of recent trends in the level of home ownership.
What assessment he has made of recent trends in the level of home ownership.
The Government are committed to supporting people into home ownership. The most recent English housing survey saw the first rise in home ownership for 35 to 44-year-olds in over a decade. Government schemes have supported over 553,000 households to purchase a home since 2011.
With house prices in the region almost seven times the average annual salary, people in Coventry and the wider west midlands are struggling to get a foot on the housing ladder. What steps are the Government taking to ensure that more genuinely affordable homes are being built in the region so that home ownership is not out of reach for all but the best-paid and those with significant capital?
With house prices in the region almost seven times the average annual salary, people in Coventry and the wider west midlands are struggling to get a foot on the housing ladder. What steps are the Government taking to ensure that more genuinely affordable homes are being built in the region so that home ownership is not out of reach for all but the best-paid and those with significant capital?
May I start by saying what a pleasure it is to hear an Opposition Member who believes in the concept of private property—not something that is shared by everybody on the hon. Lady’s Front Bench or, indeed, her leadership? I am pleased that she shares Conservative Members’ obsession that people should have the ability to own their own homes where they want to. In the end, the solution to the problem that she poses is a massive increase in housing supply. We are committed to building 300,000 homes a year by the mid-2020s, not just for one year but for a series of years—perhaps for decades, if we can get there—to address this issue. In the meantime, the Government have put significant funding—billions of pounds—behind schemes such as Help to Buy to make homes more affordable. I hope that as many of her constituents as possible will avail themselves of the assistance that is there.
To ask the Secretary of State for Communities and Local Government, what the levels of home ownership has been in (a) Coventry North East constituency, (b) Coventry, (c) the West Midlands and (d) England in each of the last six years.
To ask the Secretary of State for Communities and Local Government, what the levels of home ownership has been in (a) Coventry North East constituency, (b) Coventry, (c) the West Midlands and (d) England in each of the last six years.
The English Housing Survey reports that the levels of home ownership in England in each of the last six years were:
- 2009-10: 67%
- 2010-11: 66%
- 2011-12: 65%
- 2012-13: 65%
- 2013-14: 63%
- 2014-15: 64%
DCLG does not publish regional data.