Cover of 72: Labour’s "Your First Home" Scheme: What It Means for Property Developers

72: Labour’s "Your First Home" Scheme: What It Means for Property Developers

72: Labour’s "Your First Home" Scheme: What It Means for Property Developers

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In this episode, Jonathan and Kieron discuss the latest housing market announcements from the Labour conference, specifically focusing on the new "Your First Home" scheme for first-time buyers. Before analyzing the policy, they share progress updates on their Saltash development and recap a recent open day at Luxor House in Liskeard, where they proactively engaged with the local community and hosted a live training exercise for the fire department. They then break down the mechanics of the proposed 2.5% deposit and 20% government equity loan, exploring how this Help to Buy successor could stimulate buyer demand and support SME developers building entry-level housing. KEY TAKEAWAYS Control the Narrative: Hosting public open days allows developers to set their own narrative straight from day one, building relationships with neighbors rather than allowing locals to rely on speculation and make-believe stories. Support Local Services: Offering vacant development sites to local fire crews for training is an excellent, practical way to give back to the community and support emergency responders. "Your First Home" Mechanics: The newly proposed scheme targets first-time buyers by allowing a low 2.5% deposit, supplemented by a 20% government-backed equity loan that functions very similarly to the previous Help to Buy initiative. Boost for Entry-Level Housing: A government-backed scheme like this will heavily assist developers building for the entry-level market, helping buyers with average salaries successfully cross the finish line to property ownership. Planning Friction: While stimulating buyer demand is helpful, the government must also focus on making the planning process easier and faster to properly incentivize developers to build the necessary volume of homes. BEST MOMENTS "No, I think that's a good lesson there for people is is be proactive. Um and don't be afraid of meeting the neighbors." "You don't want to be on the back foot and you don't want to be fending off um you know stories and make believe about about your development you want to be just setting it setting it straight from day one." "So this is what they calling it your first home. It's a two and a half percent deposit for again first time buyers. You do get a 20% government backed equity loan..." "So where we're at the entry level of in in our area, um and we've what I would call affordable for people to, you know, with with average salaries to be able to achieve, you know, and purchase a property, this will really help them." YOUTUBE CHANNEL ⁠⁠https://www.youtube.com/@propertydevelopersiq⁠ HOST BIOS Jonathan is a property developer and entrepreneur with a background in finance and construction. Originally from South Africa, he holds degrees in Accounting and Auditing and relocated to England in 2003. He gained financial and operational experience at firms such as RSM, Prudential, and Baker Tilly before transitioning into property. Since 2014, Jonathan has managed major commercial-to-residential conversions and new build developments, particularly across the South West. His analytical mindset and on-the-ground experience help listeners navigate the property world with confidence. Kieron is a construction expert and entrepreneur with over 20 years of industry experience. Starting as a mason, he went on to found Shepherd Construction in 2012, delivering projects across both the public and private sectors. From extensions to luxury new builds, Kieron has earned a reputation for quality, precision, and strong leadership. As Managing Director, he’s involved in every stage—from design to delivery—offering a no-nonsense, deeply practical perspective to anyone looking to build with success. OUR SOCIALS ⁠https://www.facebook.com/jonathan.stobbs.1979/⁠ ⁠https://www.linkedin.com/in/jonathanstobbs/⁠ ⁠https://www.instagram.com/jonathan.stobbs/⁠ ⁠https://www.facebook.com/kieron.shepherd.73⁠ ⁠https://www.linkedin.com/in/kieron-shepherd-83b979aa/⁠ ⁠https://www.instagram.com/kieron__shepherd/⁠ ⁠https://www.propertydevelopersplaybook.co.uk/⁠ Book your seat now on our 3-day live event, Property Developers Bootcamp ⁠https://www.propertydevelopersiq.co.uk/pdblive
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