The British Government has announced an investment of £866 million to pave the way for the construction up to 200,000 new homes in England and Wales.
Housing Secretary Sajid Javid and Chancellor Philip Hammond announced that 133 council led projects across the country will receive funding to support infrastructure work that will make housing developments viable and get much needed homes built quicker.
With the Government committed to building 300,000 homes a year by the mid-2020s, this is the first wave of funding from the £5 billion Housing Infrastructure Fund.
This investment will fund key local infrastructure projects including new roads, cycle paths, flood defences and land remediation work, all essential ahead of building the homes. Javid explained that without this financial support these projects would struggle to go ahead or take years for work to begin, delaying the homes these communities need.
‘Our priority is building the homes this country desperately needs. This first wave of investment will help get up to 200,000 homes off the ground, making a huge difference to communities across the country. This is just one of the many ways this Government is taking action to get Britain building homes again,’ he said.
Together with the government’s Industrial Strategy, it will provide high-quality infrastructure to support economic growth. Hammond pointed out that it will finance vital infrastructure such as roads, schools and bridges, which will kick start housing development in some of Britain’s highest demand areas.
‘This support will help us meet our ambitious plan of building 300,000 new homes each year and ensure we have enough housing in areas which need it most,’ he added.
Projects from County Durham in the North of England to Cornwall in the South West will receive funding. They include £10 million for highway infrastructure to unlock further development at the Ashton Green housing site in Leicester, helping to unlock 3,300 homes and £10 million for a bypass in Botley, Hampshire, regarded as a critical strategic road infrastructure project that will help unlock the delivery of 1,000 new homes.
There is also £3.6 million for drainage works, new roads and footpaths at the Manor Cluster in Sheffield to help unlock more than 400 homes by 2025 and £6.5 million to help build a new primary school as part of the Ilfracombe Southern Extension in North Devon to help unlock 750 new homes.
The £5 billion Housing Infrastructure Fund is a government capital grant programme to help unlock new homes in areas with the greatest housing demand. Funding is awarded to local authorities on a highly competitive basis.
