£60 million boost for communities affected by second homeownership

Posted on the 3rd January 2017

New annual fund to help almost 150 councils tackle the problem of high levels of second homeownership in their communities.

Community-led housing will be given a further boost from a new annual £60 million fund which will help almost 150 councils tackle the problem of high levels of second homeownership in their communities.

The Community Housing Fund will put local groups in the driving seat and help them deliver affordable housing aimed at first-time buyers in response to the problem second homes can cause in reducing supply.

One third of the funding – almost £20 million – will be allocated directly to local authorities in the South West as this is the most popular region for second homes in England. It accounts for 21% of all second homeownership.

Second home ownership in England is at an all-time high and is crowding out first time buyers and causing a shortage of available properties. Often second homes stand empty for a large proportion of the time which can also affect community cohesion, affect the demographics of an area and distort local housing markets.

Read the full DCLG press release here

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