Govt should help first-time homeowners acquire land — Willock
Former Speaker of the House of Assembly Julian Willock has called for the government to establish a dedicated programme to help first-time homeowners purchase land and build their homes, arguing that rising costs have made homeownership increasingly difficult for many Virgin Islanders.
Speaking on the Talking Points radio programme recently, Willock said the government should provide financial assistance to eligible residents seeking to enter the housing market, particularly those purchasing their first property.
The political hopeful also pointed to undeveloped land at Nibbs Estate, saying it should be made available to qualifying residents.
“There’s some land left at Nibbs Estate that needs to be subdivided to give out to eligible residents,” Willock stated.
Willock argued that many young people face the combined challenge of buying land while also financing the construction of a home.
“When we live in a capitalist society, there’s a struggle for young people to get their first start, to get their first home. And it’s a struggle to have money to buy land and build a home,” he said.
He proposed that the government establish a dedicated funding mechanism to assist eligible applicants.
“There ought to be some programme through government where X amount — a half a million dollars, a million dollars per person or whatever it costs — is set aside so people can have access to that money once they’re eligible to build, to buy the land and to build their homes,” Willock stated.
Prohibitive cost
According to Willock, the cost of securing land and constructing a house has become prohibitive for many first-time buyers.
“It’s the cost of living nowadays. You’re not going to be able to buy your land and simultaneously build a house on it. It’s not gonna work,” he said. “As long as you live in a capitalist society, you need capital to start.”
“So I am championing having the government set aside some money, whether it’s a bank, whether it’s through an agency in government, to assist young people in buying land and building their first home,” Willock said. “People must be able to get their first home, but land and home together is a double whammy in terms of costs.”
Willock noted that Premier Dr Natalio Wheatley had recently announced a similar concept during the State of the Territory Address, adding that the proposal was one he intended to continue championing.
The issue of housing affordability has gained renewed attention in recent weeks after Premier Wheatley announced that the government is developing an affordable housing initiative to create stronger pathways to homeownership through Crown Lands partnerships and other housing solutions. The Premier also said the newly constituted Crown Lands Management Board would advance outstanding land matters, including those at Nibbs Estate.
The government already offers customs concessions to qualifying first-time home builders importing construction materials, but Willock argued that additional assistance is needed to help residents acquire land before they can begin building.
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Wiggy has just overtaken the lil red boy……..Roger in a distant 3rd coming off the pace
My God – Why don’t you turn your solution around Wiggy and have Government focus on cutting the cost of living and making everything MORE affordable for all in these God forsaken islands! Everything is so a$$ backwards here! You are devoid of creativity, solutions, or the most basic of analytical thinking!
None of you can see the forest for the trees! Lord, please help us!
Willock is the most qualified person to replace Fraser thus far.
The only one that can actually do something.. but lawd he cr**ked
I like your program Mr Willock you got my vote and that of my family
If you are looking to place like with like.
But VI lookinf for new ideas, news ways not old style colonial elites who want to continue to be our Masters.
We want Independence and Freedom from this set of Greedy Elites.
Tender opposite on this very page . We suggest the government try and stop our low cost housing sliding down the hill into its own gut before embarking in yet more folly . HOA seems to be very quiet on this subject nearly 50 empty dangerous properties just newly built by their obviously talented friends & family construction companies ,wasn’t there a clause in the contracts to make the architects, engineers and builders responsible for any remedial works needed? Obviously not, will the same incompetents be being gifted yet another contract to try and stabilize this disaster in waiting.
Willock Is Correct With His Statement But He Probably is Not aware of The Issue The Young People are Experiencing With Lands Unless There Is another COI in The Territory Because the register Of Interest For Politicians Is private.One Would Be Surprised To Know How Much Crown Lands are being Held By Elected Officials Since Obtaining Office Especially Since 2019. There is a saying: Becareful What You Wish For But BVI Is Due For Another COI. The People Of this territory are Being Fooled in every Area That Is why It Is High Time We Rid ourselves of This Bunch. People are Saying ALL 13 MUST GO But I Think Only 7 Need To Go. It Is Crystal Clear To Figure out Who Those 7 are. The BVI would Be in a far Better Place with a Brighter Future If Those 7 are Gone….
That’s what you call campaign talk.
How many times do we have to listen to the same political rhetoric?? Spooners, very few bvislanders, the social security homes, a complete failure. Threadfall…same thing as spooners.
When oh when will there be an opportunity for BVIslanders to possess some of this soil???