<p><span>The Labour party would significantly increase the delivery of council and social homes while championing home ownership, with first time buyers getting “first dibs” on new schemes, according to Lucy Powell, shadow housing minister.</span></p> <p><span>Speaking at the Labour party conference in Brighton, Powell set out Labour’s plans as part of its “new settlement” on housing. This, she said, would include a “massive increase in council and social homes, fit for all ages”.</span></p> <p><span>Powell stated that she saw “no contradiction” in her party also promoting home ownership for “ordinary working people”. She said first time buyers would have the chance ahead of others to purchase new build housing, putting “an end to the outrageous practise of foreign hedge funds purchasing swathes of new homes, off plan”.</span></p> <p><span>She pledged that Labour would build more “truly affordable homes”. The party intends to hand local authorities new powers to buy and develop land for housing. This could help generate up to 100,000 new homes a year, Powell said, the majority of which would be “social and affordable”. </span></p> <p><span>On the affordability issue, she stated: “For too long, speculators and developers have held most of the cards – ducking minimal commitments, extracting huge value from …