Almost £300 million government investment to deliver more homes across England

March 22, 2018

Government Investment to unlock more homes across England announced yesterday 21st March 2018.

Almost £300 million government investment in Greater Manchester, the West of England and Oxfordshire is set to help deliver thousands of much-needed new homes for local communities, Housing Secretary Sajid Javid announced 21 March 2018.

Greater Manchester is set to receive £68 million funding to support the Mayor’s ambitious target of delivering 227,200 homes by 2035 and boost economic growth across the Northern Powerhouse.

Government support for the West of England will help to nearly double the number of new homes being delivered historically, increasing from around 4,000 homes to 7,500 homes a year. This will deliver much-needed homes and support the local economy.

Ministers have also approved a housing deal with Oxfordshire worth £215 million that will help deliver a further 100,000 new homes for local people. This follows a similar deal agreed with the West Midlands last week to support the Mayor’s ambitious plan to deliver 215,000 homes across the region.

This latest announcement comes as 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 £4.1 billion funding will be available for vital infrastructure like roads, bridges, new schools and medical centres, which are needed for new communities.

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.

“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.”

Read the announcement 21st March 2018 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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