Government gives borough £650,000 to build homes
Funds to tackle the problems of high second home ownership in Great Yarmouth have been handed to the borough council.
The government has given £650,000 to the borough to help deliver affordable housing aimed at first-time buyers.
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.
Great Yarmouth MP Brandon Lewis said it was good to see Great Yarmouth benefitting from over £650,000 extra money the borough council to build more homes.
Housing minister Gavin Barwell said: “The high number of second homes can be a frustration for many who struggle to find an affordable home in their community.
“This new fund will help tackle that by boosting supply and make sure community groups are at the heart of delivering new homes so that this is a country that works for everyone.
“The funding will be targeted at the community-led housing sector and distributed to groups via local councils who know their area’s needs best.”
Across the country community-led housing will has received a share of £60m fund to help almost 150 local authorities.
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.
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.
The groups can also be an important link between the community and local authorities, having credibility among residents and directly representing the needs of the community.