£300m funding announced for new homes across England

Almost £300 million of government funding is to be used in three areas of England to deliver thousands of new homes. Greater Manchester will collect £68 million to deliver 227,200 homes over the next two decades.

Meanwhile, Oxfordshire is to receive £215 million to provide 100,000 new homes for local residents, and the west of England – covering Bath, Bristol and north-east Somerset – will get an initial £3 million for specialist support to deliver affordable homes.

A further 44 areas across England have bid for finance from the Housing Infrastructure Fund, which has up to £4.1 billion available for the likes of roads, bridges, schools and medical centres to serve new communities.

Investing in infrastructure

Announcing the funding, Housing Secretary Sajid 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 we can help unlock even more new homes in the areas where they’re needed most and build a Britain fit for the future.”

In Greater Manchester, the focus will be on developing brownfield land for housing and pushing for more homes built on small sites with the aim of building hundreds of thousands of new homes by 2035.

Delivering affordable properties

In the west of England demand for housing is very high with the average house price more than eight times average incomes. In Bath, average house prices are 10 times average incomes. The government funding is an interim package to help deliver more homes and deal with the challenge of affordability in the region.

Six local authorities in Oxfordshire will share in the funding from central government along with the local enterprise partnership, OxLEP. The deal aims to deliver 100,000 homes by 2031 as part of the emerging Cambridge-Milton Keynes-Oxford corridor.

The Housing Infrastructure Fund has up to £5 billion in funding available to local authorities who can bid for finance to deliver homes and infrastructure.