Modular Connections

Thursday, September 22, 2005

£60,000 house not such a bargain after all

The Government's £60,000 house competition, designed to reduce the growing obstacles to first-time buyers, is being exposed as something of a letdown.

The £60,000 figure is not, as believed by many, the cost of purchasing the house but is the cost of building it (excluding original land purchase). Why the Government is extolling the virtues of the £60,000 house now is unclear when flats and houses have been constructed for around the £57,000 mark for some time now, mainly using steel-framed modular construction techniques.

There is also growing doubt over the locations of the proposed developments. Presumably to keep land purchase costs low, landfill sites and areas in close proximity to maximum security prisons seem to have been the obvious choices, but how clever is that going to seem when it comes to selling up?

It seems that first time buyers (who will only own a percentage of the property) could possibly do better to look further than the Government's dubious offers.

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