Ministry of Housing, Communities & Local Government
£600 million boost for housing
- Also published by:
- HM Treasury
The Chancellor announces over £600 million of new investment to build up to 50,000 new homes in high demand areas in England.
- Chancellor Sajid Javid announces over £600 million to support the building of 50,000 new homes
- Fund will ensure necessary infrastructure is in place to unlock housing
- Move follows Chancellor’s commitment to a step change in infrastructure investment with National Infrastructure Strategy this Autumn
Up to 50,000 new homes in high demand areas will be delivered through over £600 million of new investment for housing in England, the Chancellor announced recently (Saturday 17 August).
The funding will be made available through the Housing Infrastructure Fund (HIF), originally launched by Mr Javid when he was Secretary of State for Communities and Local Government. Since it was launched, £1.3 billion has been allocated to deliver up to 76,500 homes.
The announcement builds on this, and the £600 million will help deliver five new projects in London, Central Bedfordshire and Essex – all areas of high demand for new housing.
Chancellor of the Exchequer Rt Hon Sajid Javid MP recently said:
I want to see more homes built in the places people want to live, so more people realise the dream of homeownership.
But we need the roads, rail links, and schools to support the families living in those homes, which is why I set up a fund to put in place the infrastructure to unlock new homes in these areas.
And today I’m announcing hundreds of millions in new investment, helping more people get on the property ladder and allowing more communities to flourish.
Housing Secretary Rt Hon Robert Jenrick MP recently said:
I am determined to help people make the dream of home ownership a reality and this investment of over half a billion will unlock thousands of new homes by providing essential infrastructure.
To build more, we need to provide the infrastructure and public services to match. This package will support existing communities and ensure they receive the roads and schools to sustain the homes being built.
Last year we built more new homes than any other year bar one in the last 30 years. There’s more to do and I will be focusing relentlessly on getting Britain building.
While there are many sites all over the country that could be used for new housing projects, many lack the infrastructure needed to make building homes on them viable. This can be because they lack the roads, rail links, or schools required to unlock new development.
The HIF is designed to support local authorities that want to step up their plans to increase the overall housing supply, make more land available for housing, and deliver new physical infrastructure that supports new and existing communities.
The boost to funding underpins the government’s commitment to increasing the UK’s housing supply and helping more young people to realise their dream of home ownership.
- The five specific projects announced by the Chancellor are:
- £218 million for the ‘Beaulieu Station and North-East bypass’ bid from Essex County Council to deliver a new train station and road improvements to unlock up to 14k homes.
- £156 million for the ‘Meridian Water’ bid from Enfield to deliver rail works, road infrastructure, land remediation, flood alleviation and utilities to unlock up to 10k homes
- £99.9 million for the ‘Tendring Colchester Borders Garden Community’ bid from Essex County Council to deliver a new single carriageway link road and works to unlock up to 7.5k homes.
- £69.6 million for the ‘Transformational Growth in Biggleswade’ bid from Central Bedfordshire to deliver a new secondary school and transport infrastructure to unlock up to c.3k homes.
- £80.8 million for the ‘East London Line – Growth Capacity’ bid from the GLA to deliver transport upgrades to unlock up to 14k homes.
The Housing Infrastructure Fund is a government capital grant programme of up to £5.5 billion. The Fund is divided into 2 streams:
- Marginal Viability Funding: available to all single and lower tier local authorities in England – to provide the final or missing piece of infrastructure funding to get additional sites allocated or existing sites unblocked quickly
- Forward Funding: available to the uppermost tier of local authorities in England – for a small number of strategic and high-impact infrastructure projects. The announced projects are all successful ‘Forward Funding’ bids.
Funding is being awarded to local authorities on a highly competitive basis, providing grant funding for new infrastructure that will unlock new homes in the areas of greatest housing demand across the country.
Latest News from
Ministry of Housing, Communities & Local Government
Jenrick acts to safeguard affordable homes during pandemic07/07/2020 08:10:00
A scheme to help get more families across England into affordable homes has been extended by a year, Housing Secretary Robert Jenrick yesterday announced.
Local Government Association annual conference 2020: Minister for Regional Growth and Local Government's speech06/07/2020 12:48:00
Speech given recently (03 July 2020) by Simon Clarke MP at the Local Government Association’s annual conference 2020.
Government announces £10 million for small businesses to kickstart tourism03/07/2020 15:25:00
Communities that depend on tourism will receive a major boost from a new £10 million Kick-starting Tourism Package.
Comprehensive new funding package for councils to help address coronavirus pressures and cover lost income during the pandemic03/07/2020 08:10:00
Major new support package to help councils respond to coronavirus announced as part of comprehensive plan to ensure councils’ financial sustainability for the future.
Social housing to be prioritised for veterans29/06/2020 12:10:00
New measures announced to provide improved access for members of the Armed Forces, veterans and their families to social housing.
Government outlines support for pubs, cafes and restaurants26/06/2020 08:10:00
More pubs, restaurants and cafes will be able to serve customers outdoors in plans announced by the government.
£105 million to keep rough sleepers safe and off the streets during coronavirus pandemic25/06/2020 08:10:00
Interim housing for thousands of rough sleepers taken off the streets during the pandemic to be provided.
Plans to ease guidance for over 2 million shielding23/06/2020 12:10:00
Millions of people shielding from coronavirus (COVID-19) will be advised they can spend more time outside their homes from Monday 6 July, the Health and Social Care Secretary has announced.