A PLAN to build 500 council homes in Fareham by 2017 has been welcomed by the Labour party.
Fareham Labour Party praised Fareham Borough Council’s initiative which, as reported, has earmarked nine sites for potential development across the borough.
Labour spokesman Richard Ryan said: ‘We welcome this move to build housing for people who are finding it increasingly difficult to rent or buy in the borough.
‘House prices are rising and people in their 20s and 30s, even on above-average earnings, are unable to find enough deposit or get a mortgage.
‘The government’s Help to Buy scheme may assist with the deposit but it’s causing another housing bubble and is only a partial fix. We believe that interest rates will rise in the not-too-distant future exacerbating the problem even further. Only increasing the housing supply will provide a long-term solution.’