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Chancellor announces £600 million funding for new homes

Posted: 21st October 2019   In: Residential Conveyancing

The government has announced it will invest £600 million to build 50,000 new homes in England.

Chancellor Sajid Javid says the homes will be built in high demand areas using money from the Housing Infrastructure Fund (HIF).

Many potential sites across the country 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.

Mr Javid said: “I want to see more homes built in the places people want to live. But we need the roads, rail links, and schools to support the families living in those homes.”

Housing Secretary Robert Jenrick said: “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.”

Please contact Dipak Odedra or Eugene Pritchard for more information about the legal aspects of buying or selling a home.

 

Posted by: Dipak Odedra
Residential Conveyancing
Berkhamsted Office