Housing association L&Q recently welcomed Labour leader Sir Keir Starmer and Shadow Chancellor Rachel Reeves on a tour of Saxon Reach, a new development in Milton Keynes.
The politicians learned more about the current market conditions for first-time buyers and heard from L&Q residents about their experience buying their first home through shared ownership.
The Leader of the Opposition was welcomed on site by L&Q’s chief executive Fiona Fletcher-Smith, who briefed him on L&Q’s ambition to deliver affordable homes whilst investing to improve existing homes and services for residents.
L&Q has started the industry’s largest investment programme to invest over £2bn over 15 years in the safety, quality, comfort, and environmental performance of residents’ homes.
This is alongside a £250m fire safety programme, which is now underway.
Whilst on site, the Labour politicians and L&Q directors also discussed the challenges facing both residents and the housing sector associated with severe economic uncertainty and the rising cost of living.
L&Q group chief executive Fiona Fletcher-Smith said: “At L&Q we strongly believe that everyone deserves a quality home that provides them with the opportunity to live a better life.
“And whether that dream home is a flat in London, a family home in the suburbs or a larger house away from the hustle and bustle of urban life, your dream should be attainable.
“We were therefore very encouraged to hear that housing is one of the Labour Party’s main priorities and especially helping first-time buyers on the property ladder.”
She added: “There is much to be done, however, and we want to work with partners across the political spectrum, as the rising costs of labour and materials, policy uncertainty and rising interest rates are impacting our ability to deliver not just shared ownership homes but homes of all tenures, including social rent.”
Starmer: ‘First dibs to first-time buyers’
Keir Starmer, leader of the Labour Party, said: “Meeting developers and residents here in Milton Keynes has proven that there is a generation of prospective first-time buyers having their aspiration hampered by economic conditions.
“Due to soaring mortgage rates, rising prices, and stagnant wages, too many people earning decent wages aren’t able to save for a deposit to buy their own home.
“Labour will match their ambition to see more people in the UK owning their own home.
“My Labour government will drive up homeownership for hard working people up and down the country.
“We’ll give first dibs to first-time buyers, stop foreign investors hoovering up new developers, and will launch a mortgage guarantee scheme, so people who can clearly afford to pay a monthly mortgage can get on the housing ladder.
“We’ll also work with developers to ensure that housing is energy efficient. Britain has so much potential. My Labour government will harness it.”
Starmer, Reeves, and Fletcher-Smith stopped along their tour of the Saxon Reach estate to chat with some of L&Q’s newest residents on the estate, who have recently purchased a home through shared ownership.
They then spoke with a group of Milton Keynes residents who are still struggling to get on the property ladder.
Construction at Saxon Reach started in 2019 to deliver 225 new homes; of the 172 dwellings built, 170 are now occupied.
The new homes are part of a wider mixed-use development allocation at Wavendon for approximately 2,900 homes and 80 acres of employment land in the Milton Keynes Core Strategy.
This is currently being led on by L&Q Estates, part of L&Q, which have invested nearly £18m in local infrastructure to facilitate the delivery of homes and facilities on site.
Also present on the visit was Cllr Emily Darlington, Labour candidate for Milton Keynes South and cabinet member for Adults, Housing, and Healthy Communities at Milton Keynes Council.
Cllr Emily Darlington said: “It was great to be on site today at L&Q’s Saxon Reach and see first-hand how some of our residents are enjoying living in homes they deserve.
“Our city Council’s priority for Milton Keynes residents has been to tackle homelessness and the housing crisis through the delivery of new homes, including both council homes and supporting developments like this one at Saxon Reach.”
Image: Sir Keir Starmer, Rachel Reeves, and Fiona Fletcher-Smith on site at Saxon Reach, Milton Keynes
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