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Further housing fund packages announced

Wednesday 21 March 2018

Following last week's Spring Statement, Government have announced a bundle of packages to support housing needs across the country.

Housing Secretary Sajid Javid MP has pledged almost £300 million in government investment to support the delivery of thousands of much-needed new homes for local communities in Greater Manchester, the West of England and Oxfordshire.

Greater Manchester housing package

The £68 million funding package for Greater Manchester will subsidise the development of land for housing and focus on smaller site builds. The bundle includes:

  • £50 million for a Land Fund to help councils in the region to prepare brownfield land for housing development
  • Taking four Housing Infrastructure Fund projects through to the next stage of assessment for funding
  • Up to £8 million for capacity funding to boost support for housing delivery across the region
  • £10.25 million funding to help regenerate the Collyhurst Estate in North Manchester
  • New flexibilities on the existing £300 million Housing Investment Fund to allow more homes to be delivered through loans to developers

Mayor of Greater Manchester Combined Authority, Andy Burnham, welcomed the Housing Deal from government, and the investment Greater Manchester’s Leaders have secured will allow the city to build on more of Greater Manchester’s brownfield sites.

He said: “As we look to build the homes Greater Manchester needs, we must do everything we can to make sure as much brownfield land as possible is made available for development. This is the best way to ensure we minimise the impact on our green spaces. But this isn’t just about numbers of homes and land for development. I’ve been clear that I want to see more truly affordable homes built and more homes available for social rent across Greater Manchester. I also want the rewritten Greater Manchester Spatial Framework to specify a date by which all new homes built across Greater Manchester should be net zero carbon. This is all part of my ambition.”

West of England housing package

The government’s interim package for the West of England – covering Bristol, Bath and North East Somerset, South Gloucestershire and North Somerset – supports the Mayor’s ambitious plans to deliver more homes and tackle affordability challenges. It includes:

  • £3 million of funding for specialist support to help the region deliver large housing development 
  • Developing two Housing Infrastructure Fund projects through to the next stage of assessment for funding
  • Exploring the potential for a deal with housing associations in the region to deliver more affordable homes

West of England Mayor, Tim Bowles said: “We have worked closely with government to secure this announcement. We know that we need more homes, to buy and rent - homes where they are needed at prices people can afford. This deal will support us to work with our constituent councils, and North Somerset council, to build homes and communities that are well-connected.”

Oxfordshire housing deal

The first completed government housing deal has been confirmed with Oxfordshire’s six local authorities - Cherwell, Oxford City, South Oxfordshire, Vale of White Horse, West Oxfordshire, Oxfordshire County Council - and the Local Enterprise Partnership, OxLEP. The £215 million deal will:

  • Deliver 100,000 homes by 2031, which will play a key role in the emerging Cambridge-Milton Keynes-Oxford corridor where the government recognises the need to build up to one million new homes in the area by 2050.
  • Provide £150 million of the funding to build much needed bridges, roundabouts and roads.
  • Deliver more than 1,300 affordable homes by dedicating over a quarter of the new funding, £60 million, to support these new homes.

Oxfordshire is also home to three garden towns and villages – at Bicester, Didcot and Oxfordshire Cotswold - where government has invested almost £4 million to deliver an additional 30,000 homes.

Cllr Bob Price, Chair of the Oxfordshire Growth Board said: “I’m pleased that so many councillors of all parties and from all parts of the county have backed the deal. It represents a comprehensive and integrated approach to addressing Oxfordshire’s severe housing shortage and infrastructure challenges. It demonstrates the government’s commitment to working with Oxfordshire and recognises the critical role the county will play in driving forward the UK economy post-Brexit, attracting global investment. The government has said the deal represents a ‘downpayment’ on a pipeline of infrastructure investment for Oxfordshire – and we in the county will work with them to ensure that happens.”