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£600m infrastructure funding will deliver 50k new homes

More than £600 million of funding has been unlocked to support 50,000 new homes in England.

Chancellor Sajid Javid announced the funding, which will be used to create the infrastructure needed for new communities and developments.

Up to 50,000 new homes in high-demand areas across England, including London, central Bedfordshire and Essex, will now be delivered with the developers accessing finance from the Housing Infrastructure Fund (HIF).

Homes where people want to live

Since its launch by Mr Javid, when he was Communities Secretary, the fund has allocated £1.3 billion to deliver 76,500 homes in England.

Mr Javid said: “I want to see more homes built in the places people want to live so more people realise the dream of home ownership.

“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.

“Today I’m announcing hundreds of millions in new investment, helping more people get on the property ladder and allowing more communities to flourish.”

Increasing housing supply

Housing Secretary Robert Jenrick added: “I am determined to help people make the dream of home ownership a reality.

“To build more, we need to provide the infrastructure and public services to match.

“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.

“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.”

5 projects to benefit

Five projects will share the £600 million funding.

They are Beaulieu Station and north-east bypass in Essex that will claim £218 million; £156 million for Meridian Water in Enfield, north London; £99.9 million for the Colchester borders garden community; £69.6 million in central Bedfordshire; and £80.8 million for the east London line.