£10m funding provided

WQ.134/2022

WRITTEN QUESTION TO THE MINISTER FOR HOUSING AND COMMUNITIES BY SENATOR T.A. VALLOIS

QUESTION SUBMITTED ON TUESDAY 19th APRIL 2022

ANSWER TO BE TABLED ON TUESDAY 26th APRIL 2022

Question

“In respect of the approximately £10 million of funding allocated to the Assisted Home Ownership Scheme in the Government Plan 2020-2023, will the Minister advise –

1. how much has been used to date and for what projects; and
2. how much is expected to be used during the remainder of 2022, and for what purposes?”

Answer

One of the aims of my Creating Better Homes: an action plan for housing in Jersey was to create a pipeline for new housing, especially new affordable housing, not just for the coming years but to stretch further into the future, containing the right blend of product to best satisfy demand.

In line with commitment 4a in that plan, I have commissioned research to understand the scope and effectiveness of current and historic affordable purchase and intermediate housing products, and to recommend options to strengthen and expand the support available for affordable purchase.

The investment of up to £10 million to support delivery of affordable purchase support does not begin until the second phase of this work. Therefore, in line with the action plan, the funding continues to be ring-fenced to support this priority and has not yet been spent.

I am sure Members will agree that it is important to understand how best to use the funding so that the design and implementation of further support for affordable purchase products can be carefully

handled to help to stabilise overall property prices, and to target the support at those who genuinely need it.

In the coming weeks, I expect to set out my plans to use the £10 million to support Islanders to own a home.