Minister: Government May Need to Boost Investment in Shared-Equity Housing Scheme

Government May Need to Cover Half of Property Costs for First-Time Buyers, Says Minister

Taxpayers could soon be funding up to 50% of property purchases under Jersey’s shared-equity schemes to help first-time buyers get on the housing ladder, according to Environment Minister Steve Luce.

With soaring construction costs and high land prices, Deputy Luce told a Scrutiny panel that the government may need to take a larger stake in property purchases to keep affordable housing viable.

“I don’t think we should be surprised if we find ourselves in a 50/50 situation soon,” he said, adding that while the government would gain assets, it would also require a “considerable” financial commitment.

The current First Step scheme, launched by Housing Minister Sam Mézec last year, offers eligible buyers up to 40% equity support using a £10 million fund. Over 50 homes have already been purchased through the scheme, and a fourth round of applications recently closed.

While Luce hinted that 50% equity may soon be necessary, Mézec responded that any increase would need to be based on data. “If affordability changes, we’ll respond — but it could go up or down,” he said.

Other affordable housing support schemes are also in place through Andium Homes, Jersey Development Company, and some parish-run programmes.