The UK Government has launched a new £60 million fund to help almost 150 councils tackle the problem of high levels of second homeownership in their communities.
The Community Housing Fund will support local groups to deliver affordable housing aimed at first-time buyers. Almost £20 million of the funding will be allocated directly to local authorities in the South West as this is the most popular region for second homes in England, accounting for 21% of all second homeownership. The first year of funding will be used to build capacity within local groups such as improving technical skills, setting up support hubs to offer advice, business planning and providing staff to review local housing needs. Funding in the following year must then be used to deliver housing on the ground for local people.