Govt announces new fund for homes

Govt announces new fund for homes

A new £25 million fund has been created to encourage the building of high-quality and well-designed homes.

Housing minister Alok Sharma revealed local authorities can now benefit from the Planning Delivery Fund which will support developments aimed at creating new properties in areas where supply is limited, but demand is high.

The fund is part of the government’s overall plan to create 300,000 new housing each year by the mid-2020s. Other initiatives include the creation of 14 garden villages to provide areas of attractive housing, strong infrastructure and accessible transport links.

“Locally led developments have enormous potential to deliver the scale and quality of housing growth that we need. By supporting our local authorities, we will be able to unlock more homes where people want to live,” said Mr Sharma.

It is expected the first allocation of the funds will total £11 million and cover the financial years 2017/2018 to 2018/2019.