UK to buy unsold new homes to spur construction - trade magazine



Britain's government will buy unsold homes built by developers using a 2 billion pound fund announced earlier this week, a move designed to get construction firms to commit to bigger projects, a trade journal reported on Thursday.
On Monday Britain launched a 5 billion-pound housing stimulus package, including plans to borrow 2 billion pounds to increase the pace of house-building which will now be used to guarantee housing developments.
"It's about us going to a housebuilder and instead of expecting the normal build-out rate of 50 units a year, we'll say: 'We want you to build all 500... read more

 
6 October 2016 in Business, Views: 55
Source: Reuters
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