Cost rental scheme so popular it is oversubscribed, Housing Minister says

The video discusses the official opening of 118 new cost rental homes, a new housing tenure introduced 12 months ago. These homes offer state-backed affordable rents, 35% below market rates, ensuring long-term tenancies. The scheme, managed by tour and backed by the housing agency, has approved around 900 new homes this year. The popularity of this tenure is evident as applications are oversubscribed. The video also highlights affordability measures, including the first home scheme and the delivery of more social homes than ever before. The speaker commends the efforts of various departments and councils in achieving these milestones.

What is the primary benefit of the new cost rental homes introduced in the past year?

• They are built using eco-friendly materials.

• They are located in urban areas.

• They offer rents 35% below market rates.

• They are available only to first-time buyers.

How many new cost rental homes have been approved for the current and upcoming year?

• 900

• 1200

• 700

• 500

What is a significant challenge faced when opening new cost rental estates?

• Lack of interest from families.

• Oversubscription of applications.

• High construction costs.

• Limited government support.

What new scheme has been introduced to help with home purchases?

• The First Home Scheme

• The Green Home Initiative

• The Rent-to-Own Program

• The Urban Living Plan

What achievement is highlighted regarding social homes this year?

• More social homes delivered than any previous year.

• All social homes are now eco-friendly.

• Social homes are now available in rural areas.

• Social homes are exclusively for senior citizens.