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UK Government will buy homes developers can’t sell in £2bn housebuilding drive
The government will use a new £2bn housebuilding fund to step in and buy homes that developers cannot sell in a drive to speed up housing delivery and reduce construction risk, Property Week can reveal. The accelerated construction fund, announced at this week’s Conservative Party conference, will be used to guarantee housing developments, with the government effectively using its balance sheet to underwrite the risk developers take. This would allow sites to be built out more quickly, Sir Edward Lister told Property Week. “The way I see that going is guarantee money rather than anything else,” said the ... (full story)
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