£300m investment set to unlock more homes

The government is set to invest nearly £300 million in the West of England, Greater Manchester and Oxfordshire to help boost UK housing delivery.

Aiming to help the West of England almost double the number of homes they’re able to construct, the funding sets out to boost annual volume to 7,500, up from an estimated 4,000.

£68 million is set to go to Greater Manchester, supporting the target set by the Mayor of delivering 227,200 by 2035.

A housing deal in Oxfordshire for around £215 million has also been approved by ministers, aiming to help build around 10,00 new homes within the locality.

Announced earlier this week by Housing Secretary Sajid Javid, the news follows the notice that Housing Infrastructure Fund Bids have now been shortlisted to the next stage of the competitive process. Offering funding to local authorities, this fund will go towards infrastructure to support up to 10,000 new homes.

Highlighting the aim of the housing fund as well as the supporting infrastructure, Sajid Javid stated: “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.”

 

Today's Conveyancer