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• Chancellor Sajid Javid announces over 拢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鈥檚 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 拢600 million of new investment for housing in England, the Chancellor announced today (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, 拢1.3 billion has been allocated to deliver up to 76,500 homes.

The announcement today builds on this, and the 拢600 million will help deliver five new projects in London, Central Bedfordshire and Essex 鈥� all areas of high demand for new housing.

Chancellor of the Exchequer Rt Hon Sajid Javid MP 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鈥檓 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 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鈥檚 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鈥檚 commitment to increasing the UK鈥檚 housing supply and helping more young people to realise their dream of home ownership.

Notes

• The five specific projects announced by the Chancellor are:

1. 拢218 million for the 鈥楤eaulieu Station and North-East bypass鈥� bid from Essex County Council to deliver a new train station and road improvements to unlock up to 14k homes.
2. 拢156 million for the 鈥楳eridian Water鈥� bid from Enfield to deliver rail works, road infrastructure, land remediation, flood alleviation and utilities to unlock up to 10k homes
3. 拢99.9 million for the 鈥楾endring Colchester Borders Garden Community鈥� bid from Essex County Council to deliver a new single carriageway link road and works to unlock up to 7.5k homes.
4. 拢69.6 million for the 鈥楾ransformational Growth in Biggleswade鈥� bid from Central Bedfordshire to deliver a new secondary school and transport infrastructure to unlock up to c.3k homes.
5. 拢80.8 million for the 鈥楨ast London Line 鈥� Growth Capacity鈥� 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 拢5.5 billion. The Fund is divided into 2 streams:

• Marginal Viability Funding: available to all single and lower tier local authorities in England 鈥� 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 鈥� for a small number of strategic and high-impact infrastructure projects. The announced projects are all successful 鈥楩orward Funding鈥� 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.