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22/03/2018

Javid announces £300m of housing funding

Words: Laura Edgar
Deal agreed / Shutterstock

Housing secretary Sajid Javid has announced that £300 million is to be shared between Greater Manchester, the West of England, and Oxfordshire to deliver ‘thousands of much-needed’ new homes.

Following a deal in the Spring Statement (13 March) with the West Midlands Combined Authority worth £350 million to deliver 215,000 homes, the government says it will also invest £68 million in the Greater Manchester Combined Authority to help Mayor Andy Burnham deliver his target of building 227,200 homes by 2035.

Greater Manchester’s housing package includes £50 million for a Land Fund to help councils prepare brownfield land for development.

The government will support the West of England Combined Authority as it aims to nearly double its housebuilding rate from 4,000 homes to 7,500 homes. As part of the package, the region will receive £3 million for specialist support to deliver large housing development.

Initially announced in the 2017 Autumn Budget, Oxfordshire’s housing deal has been confirmed, with £215 million to go towards building 100,000 new homes.

Of the funding, £60 million will support the delivery of 1,300 affordable homes.

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.”

More information on the housing packages can be found on the Ministry of Housing, Communities and Local Government website:

Greater Manchester

West of England

Oxfordshire


Read more:

Spring Statement 2018: Hammond backs West Midlands to build 215,000 homes in 10 years

Autumn Budget 2017: Stamp Duty abolished for first-time buyers; garden towns; £15bn extra for housing market


Image credit | Shutterstock

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