£2.3 billion fund to unlock 100,000 new homes
The government has announced a £2.3 billion fund which will help unlock 100,000 new homes in areas of high demand.
Communities Secretary Sajid Javid said hundreds of housing developments were being held up because of a lack of local infrastructure.
The Housing Infrastructure Fund (HIF) will solve that problem by enabling the construction of roads, bridges, energy networks and other utilities.
Local authorities across England are being invited to bid for the funding, which will also be available to help build new schools, healthcare centres and digital infrastructure to accommodate growing communities and alleviate pressure on public services.
Once proposals have been approved, it is expected that local authorities will begin building the necessary infrastructure immediately and for the homes to follow quickly afterwards.
The funding will be allocated to local authorities on a competitive basis and will be available from 2017-18 to 2020-21.
Mr Javid said: “To build the homes this country needs, we need to deliver the right infrastructure in the right place at the right time.
“By investing in local infrastructure, we can help unlock thousands of new homes in the areas where they are needed most.”
Please contact Gurjit Dhadar or Dipak Odedra if you would like advice about the legal aspects of buying or selling a home.