Government Invest in Housing Future

Government Invest in Housing Future

Yesterday the Housing Secretary Sajid Javid announced that the government would be investing almost £300 million to create thousands of new homes in the North, West, and South East, of England.

Greater Manchester, the West of England and Oxfordshire are all set to receive the boost of much-needed new homes with other areas shortlisted to also receive funding for major 'infrastructure projects' which could deliver over 400,000 new homes. This highlights a postitive step towards the government's ambition of building 300,000 homes a year by the mid 2020s.

Mr Javid said: 

"This government is determined to build the homes this country needs. That’s why we’re working with ambitious areas across England and backing them with investment and support. This new housing investment in Greater Manchester, the West of England and Oxfordshire will help build much-needed homes, giving more people the opportunity to get on the property ladder. We’re also investing in local infrastructure like schools, roads and hospitals, so that we can help unlock even more new homes in the areas where they’re needed most and build a Britain fit for the future".

Breakdown of the Housing Packages


Location 


Housing Package


Greater Manchester


£68 million funding to deliver 227,200 homes by 2035


Bristol, Bath, Somerset (North and North East), and South Gloucestershire


Plans to deliver almost double the number of new homes each year and tackle affordability challenges.

 

Oxfordshire 


Delivering 100,000 new homes by 2031, with a view to build up to 1 million new homes in the emerging Cambridge-Milton Keynes- Oxford corridor by 2050.

The Housing Infrastructure Fund 

This recent announcement is an example of the Housing Infrastructure Fund  at work, which aims to provide grant funding for local authorities to develop new housing and infrastructure. This is not only good news for house builders, but also for local communities who require new roads, schools, parks and other community amenities.


Government Press Release: https://www.gov.uk/government/news/government-investment-to-unlock-more-homes-across-england

Housing Infrastructure Fund: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/625528/DCLG_Introduction_to_Housing_Infrastructure_WEB.pdf


Article Published: 22/03/18

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