Conservative pledge for affordable housing

10-Feb-2006

More affordable housing is needed to ensure that first time buyers are not priced out of the market, according to the Conservative treasury spokesperson.

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George Osborne has assured aspiring homeowners in the UK that the party is aware of the lack of affordable housing and that it hopes to tackle the problem.

Mr Osborne said that focussing on the planning process would help to reduce delays in construction projects, while suburbs need to be "rejuvenated".

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Going back on previous opposition to the development of Greenfield sites, he admitted that new opportunities must be found.

"I want the modern Conservative Party to become again the champion of affordable and sustainable home ownership," Mr Osborne told delegates at a property conference in south Wales.

"I want us to be on the side of the first time buyer, helping young families realise their dream of home-ownership."

He said that the current government had made mistakes, with the "wrong homes being built in the wrong places" and added that housing supply must be increased to keep up with demand.

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