New roads funding announced that will lead to over 20,000 new homes being built
The Government has announced more than £250 million of funding for infrastructure that it says will unlock over 20,000 homes nationwide.
The investment, from the Housing Infrastructure Fund, will pay for roads, schools, public transport and utilities in seven places across the Midlands, the East of England and South East.
Chancellor of the Exchequer, Sajid Javid, described it as an ‘infrastructure revolution’ that will ensure new homes can be built in areas of high demand where people want to live.
‘When I was Housing Secretary I set this fund up to help ensure homes can be built in areas that need it the most, and enable people to live where they want,’ he said.
‘I have now launched an infrastructure revolution and this step-change in funding will ensure that all parts of the country benefit as we level up opportunities,’ he pointed out.
‘This £250 million will increase the number of houses available to buy and help support people to achieve their dream of home ownership,’ he explained, adding that the Government is committed to levelling-up communities across the country so that all areas benefit from investment and growth.
Some £52.3 million will go to the Slyfield Area Regeneration Project bid from Surrey County Council to support the reallocation of a water treatment facility that will unlock 1,500 homes.
There will be £19.8 million to the East of Ipswich Strategic Highway Works bid from Suffolk County Council to deliver transport infrastructure and lead to the creation of 2,000 homes.
The St George’s Barracks bid from Rutland County Council to deliver a new school and infrastructure gets £29.4 million, leading to 2,245 homes being built.
There will be £102 million to create an A40 Smart Corridor following a bid from Oxfordshire County Council with the aim of creating 5,050 homes.
The Swale Transport Infrastructure bid from Kent County Council to deliver road improvements to two junctions of the A249 at £38.1 million will lead to 7,899 new homes being built.
There is £14.7 million for the Melton Mowbray Southern Distributor Road bid from Leicestershire County Council with the aim of creating 2,340 new homes.
The Government has committed to increase housing supply by the end of this Parliament to its highest level since 1970, and is on track to reach 300,000 homes a year, on average, by the mid-2020s.
Over 222,000 additional homes were delivered in 2017/2018, the highest level in all but one of the last 31 years, and a 53% increase since 2009/2010.