First-time buyers and key workers in the Stockton-on-Tees area can now make use of the government’s First Homes housing scheme following the completion of Keepmoat Homes’ new Sycamores development on Maritime Road.
First Homes is a government housing scheme that is designed to help first-time buyers and key workers onto the property ladder by providing homes at a discount of 30% off the market price.
This discount will apply to the homes forever, so that generations of new buyers and key workers in the local community, such as NHS staff and forces veterans, will, in theory, continue to be able to afford homes in the area.
Last year, Keepmoat Homes officially launched the scheme in Durham at its Elder Gardens development in Newton Aycliffe, which delivered 12 new First Homes on the site.
Stephen Bell, Land and Partnerships director at Keepmoat Homes, said: “We were the first developer in the north-east to pilot the First Homes scheme on behalf of the government.
“The initiative was a huge success, with all 12 homes offered at our Elder Gardens scheme in Newton Aycliffe being sold within a fortnight.
“This allowed us to help local first-time buyers and key workers buy their own homes in Durham.
“Early interest in the First Homes properties being offered at our Stockton-on-Tees development, The Sycamores, indicates a similar immensely strong demand.
“Ten out of the 13 plots have been reserved already, and we expect them all to be taken by the end of the month.”
Stockton-on-Tees Borough Council’s cabinet member for Regeneration and Housing, Nigel Cooke, said: “We’re always keen for more people to live and work in and around our town centres so it’s great to see a strong interest in these homes already.
“The Sycamores offers a range of high quality, modern housing in a location where people can easily access restaurants, cafes, businesses and transport links.
“It’s the perfect town centre site that will really benefit future homeowners, and the First Homes scheme offered by Keepmoat Homes will help even more local people to get onto the property ladder.”
A range of two-, three-, and four-bedroom homes have been made available for the scheme.
The government launched First Homes in 2021, as part of a wider pledge to build 300,000 new and affordable homes per year.
More homes are set to join the project, with up to 60,000 First Homes estimated to be built across England and Wales by 2030.
Image: Keepmoat Homes’ The Sycamores scheme in Stockton-on-Tees
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