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HFi report calls for exemption from HVA levy 29/09/2016

The Housing & Finance Institute (HFi) have published a new research report which calls for "regional local councils" in Britain's coastal communities, the country villages and market towns, post-industrial heartlands and the historic cities and counties of England to be exempt from the proposed Housing & Planning Act High-Value Asset (HVA) Levy and to retain the proceeds of any higher value housing they sell - but only where there is a track record of housing delivery or a clear deliverable plan for new homes within 4 years.

 

The research report: "From the Shores to the Shires - Regional Local Councils, Big Housing Opportunities" highlights that housebuilding is dominated by the big cities and bustling metropolitan areas. But it isn't. Building, and opportunity to build, is dominated by Britain's coastal communities, the country villages and market towns, post-industrial heartlands and the historic cities and counties of England. 

 

This new research demonstrates that regional local councils in these areas have been the beating heart delivering new homes for our country but these regional local councils do not have the attention, full powers, funding and support from central government which is enjoyed by the Capital and Metropolitan areas.  

 

The HFi report argues that a re-balancing of housing policy is necessary to better support local regional councils and puts forward a five point plan to achieve this by:

 

  • Allowing local councils to keep the cash from any high-value houses they sell, provided there is a track record of housing delivery or a clear deliverable plan for new homes within four years.
  • Allowing regional local councils to be exempted from the high-value assets levy, provided there is a track record of housing delivery or a clear deliverable plan for new homes within four years.
  • Giving extra cash allocations and financial support to regional local councils if they can show they can and will deliver more homes and growth. 'Devo for Districts' should be allowed for councils with a track record who could benefit from some of the freedoms and flexibilities which have been given to urban centres.
  • Pinpointing key areas of housing opportunity in regional local councils which can be translated into more homes, faster. Providing additional support for infrastructure funding to realise these homes sooner, including for new water supply and other utilities funding.
  • Funding capacity building with the HFi "Housing Business Ready" programme to help councils in the practical work needed to implement good business skills, improve monitoring and business resilience and drive through housing delivery.

 

Details of the research report can be found on the HFi website

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