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What is a starter home?

Part of Housing and Planning Bill – in the House of Commons at 5:30 pm on 3rd May 2016.

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Photo of Brandon Lewis Brandon Lewis Minister of State (Communities and Local Government) 5:30 pm, 3rd May 2016

The right hon. Gentleman might like to go back to look at the evidence given to the Committee that scrutinised the Bill or at the Bill itself. The £450,000 is a cap. He needs to look at the average price a first-time buyer pays for a home in this country, which is £181,000. If we then include a 20% discount and allow the purchase with a deposit of just 5%, that really changes affordability. I hope the hon. Gentleman will support the chance for more Londoners to get on the housing ladder, while understanding equally that this is not the only thing we are doing to promote affordable home ownership. There is a £4.7 billion scheme out there now for shared ownership, which also plays an important part, particularly in places such as London.