First Homes, the government's replacement for its Starter Homes initiative, came into effect in June amid hopes that it would give many first-time buyers in England a helping hand on to the property ladder.
While many applaud the objective of helping first-time buyers, they point to concerns over unanswered questions, including how the introduction of First Homes could affect other affordable housing products.
Russell-Cooke partner Pieter Boodt comments in Property Week that although the government intends to continue support for other tenures and affordable housing schemes, he shares the industry's worries that First Homes will squeeze out the number of other rented products that actually get delivered.
Concerns abound regarding First Homes scheme's viability is available on the Property Week website via subscription.
Pieter is a partner in the real estate team.
He advises developers, investors, charitable organisations and private individuals based in both the UK and abroad on a wide range of commercial real estate transactions, including site assembly, development, the acquisition and disposal of investment assets, landlord and tenant matters, and real estate finance.