The regeneration of Folkestone's seafront and harbour came a step closer when the masterplan created by the leading architect Sir Terry Farrell, recently received its outline planning approval from Shepway council. The delivery of this plan will transform the economy and long term prospects of the whole area and is something we should wholeheartedly welcome.
Rome was not built in a day, and nor will this be. To make the most of this opportunity we should be very ambitious for Folkestone and recognise that it is a once in a century opportunity to do something truly impressive that will make a lasting impact. A cheap and cheerful development might be easy to start, but would not take us in the right direction and would sell us all short in the long run.
The speed of the delivery of the seafront redevelopment will undoubtedly be influenced by the strength of the construction and property markets and in this regard the planning approval could not have come at a better time. All the signs are there of a real recovery right across the housing market. Local property firms and house builders are reporting a significant increase in business and that there is growing interest from people looking to move into the area. Nationally, thanks to the launch of the help to buy scheme, where the government will provide 20% of the value of a new build property towards the deposit, there has been a surge in the number of first time buyers getting into the housing market. According to the Council for Mortgage Lenders the number of first time buyers receiving mortgages is at its highest level for six years. Further assistance is also available locally to first time buyers with the launch of the 'Lend a Hand' scheme, by Shepway Council and Lloyds bank to provide further financial support to buyers to help raise the mortgage deposit. Shepway is the first council in East Kent to have set up such a scheme, and it has also received financial support from Kent County Council. These schemes are not only helping to get the housing market moving, but are encouraging house builders to build more new homes. In the recent figures on economic growth, it was good to see that all sectors of the economy were growing, including the construction sector which has been one of the worst hit by the recession.
Last Sunday, along with Sarah and the children, I visited the Folkestone Sunday market in Guildhall Street, which has been created and organised by Chris Raines. The market runs on the second Sunday in the month, and it was great to see such a good selection of stalls. I would like to thank everyone who has worked so hard to make this event such a success.
On Thursday this week students across the district will be receiving their A level exam results. I would like to wish everyone good luck, and I hope they are all successful in getting the grades they have worked for.