New funding to unlock more homes in England

New funding to unlock more homes in England

 

Nearly £300m in Government investment is set to help deliver thousands of new homes in Greater Manchester, the West of England and Oxfordshire – Housing Secretary Sajid Javid has announced.

Greater Manchester is set to receive £68 million funding to support the Mayor’s target of delivering 227,200 homes by 2035. The package includes £10.25m funding to help regenerate the Collyhurst Estate in north Manchester and new flexibilities on the existing £300m Housing Investment Fund to allow more homes to be delivered through loans to developers

The support for the West of England is designed to increase the number of new homes to 7,500 homes a year. West of England Mayor, Tim Bowles said: “We have worked closely with government to secure this announcement, which will see millions of pounds invested in delivering new homes in the West of England.”

Ministers have also approved a housing deal with Oxfordshire worth £215 million. This follows a similar deal agreed with the West Midlands last week to support the Mayor’s plan to deliver 215,000 homes across the region.

Housing Secretary Sajid 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.”

The government has also announced that Housing Infrastructure Fund bids, from a further 44 areas for projects to help unlock more homes across country, have been shortlisted to the next stage of the competitive process.

A potential £4.1bn funding will be available for vital infrastructure like roads, bridges, new schools and medical centres.

Mr Javid said: “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.”

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