12 JAN 2017

Therese Welcomes Affordable Housing Boost for Suffolk Coastal

Therese has welcomed a £2.2m affordable housing boost for Suffolk Coastal as part of a Government initiative to increasehousing supply for first time buyers.

The Community Housing Fund uses money raised from higher rates of stamp duty on second homes to support communities affected by a large number of holiday homes and the crowding out of first time buyers. The fund enables local authorities to deliver additional affordable homes, boosting supply.

This year Suffolk Coastal is in line for £1.5m while £685,000 has been allocated to Waveney. Funding has been prioritised to areas of the country which have a high concentration of holiday homes.

Therese said: "Constituents have previously raised concerns with me about the sustainability of communities that have a high level of second home ownership. I'm delighted that the Government are using the money raised from higher taxes on holiday homes to fund additional housing for first time buyers in these areas. I will be following up with our local councils to ensure this community-led housing is delivered."

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