The Chancellor Philip Hammond and Communities Secretary Sajid Javid, have announced new measures to build more houses, more quickly, in the places people want to live.
As part of the government’s action to tackle the housing deficit and ensure everyone has a secure place to live, the Communities Secretary and the Chancellor made it clear that they are determined to take action and get more homes built.
Measures see the launch of a massive £3bn Home Building Fund. This will help to build more than 25,000 new homes this Parliament and up to 200,000 in the longer term. The fund will provide loans for small and medium enterprise builders, custom builders, offsite construction and essential infrastructure, creating thousands of new jobs in the process.
Sajid Javid said:
“This government is getting on with the job of building a country that works for everyone. We’ve made great progress fixing the broken housing market we inherited but now is the time to go further.
“We want to ensure everyone has a safe and secure place to live and that means we’ve got to build more homes.
“It is only by building more houses that we will alleviate the financial burden on those who are struggling to manage.”
Homes and Communities Agency CEO Mark Hodgkinson said:
“We’re determined to speed up delivery and promote new approaches to housebuilding. The new Home Building Fund offers the industry flexible development and infrastructure finance and we’re open for business right away.
“From today, builders and investors just need to give us a call to start discussing funding for new homes. Our dedicated team will also provide expert ongoing support to new entrants to the sector and those companies proposing innovative solutions to speed up housebuilding.”