Cheap to Build Houses
First-time buyers in Sheffield have received a New Year boost after the city was chosen for around 1, 000 discounted starter homes to be built.
Sheffield Council is one of only 30 local authorities being given Government cash to build houses which will be available exclusively to first-time buyers aged between 23 and 40 at a discount of at least 20 per cent below market value.
The houses will be built on brownfield sites, with potential areas being earmarked by the council.
The council is waiting to discover how much it will get of the £34 million it bid for – but potentially up to 1, 000 new homes could be built. In Sheffield, the average property price for a new home is £168, 000 so buyers could save around £34, 000 under the scheme.
Janet Sharpe, the council’s director of housing, said: “The starter homes programme will aim to bring back into use brownfield sites and sites that have been left derelict for a number of years for all sorts of reasons. This will then allow us to build new homes for young people and young families up to 40 years of age with the opportunity for them to purchase homes for about 80 per cent of the market value – so that is a pretty good discount for young people.