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Chancellor announces £600 million boost for housing in the south of England

Monday 19 August 2019

Chancellor Sajid Javid has announced new investment of over £600 million for infrastructure projects to support the building of 50,000 new homes.
The move follows the Chancellor’s commitment to a step change in infrastructure investment with National Infrastructure Strategy this Autumn and will help deliver five new projects in London, Central Bedfordshire, and Essex – all areas of high demand for new housing.

The Chancellor said: “I want to see more homes built in the places people want to live, so more people realise the dream of homeownership.

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.”

The boost to funding underpins the Government’s commitment to increasing the UK’s housing supply and helping more young people to become homeowners.

The projects

Essex County Council will deliver a new train station and road improvements to unlock up to 14,000 homes.

The ‘Meridian Water’ project from Enfield will deliver rail works, road infrastructure, land remediation, flood alleviation and utilities to unlock up to 10 thousand homes.

Essex County Council will deliver a new single carriageway link road and works to unlock up to 7,500 homes in the Colchester borders.

Central Bedfordshire will deliver a new secondary school and transport infrastructure to unlock up to 3,000 homes in Biggleswade.

The ‘East London Line – Growth Capacity’ project from the GLA will deliver transport upgrades to unlock up to 14 thousand homes.

NAEA Propertymark continues to lobby Government on the proposals, reports, and legislative changes that affect you and your business.