Government announces £9m investment for new towns

By Jake Carter

Feb 13, 2019
0
0

The government will provide £9m towards the building of 200,000 new homes by 2050, it has announced.

The homes will be built in entirely new garden towns and villages across the UK.

Construction has already begun on 10,000 properties, with 36,000 more expected to have been started or completed by 2020.

Of the 21 sites selected for this investment, North Essex, comprising Colchester, Tendring and Braintree has the largest number of properties earmarked for construction, at 43,000.

Furthermore, the development plans include a 2,000 home site for custom and self-builders in Bicester.

While the additional funds will aid in supplementing further housing development, the figures the governemnt wants to see are 300,000 new homes built per year by the mid-2020s.

Housing minister Kit Malthouse MP comments: “We have not built enough homes in this country for the last three decades, and we are turning that around as we work towards our target.

Mortgage Strategy

Mortgage Strategy is the leading source of news, analysis and insight for mortgage brokers and intermediaries within the UK. In print and online Mortgage Strategy delivers the complete picture on key issues affecting mortgage specialists, from identifying key lenders in the adverse credit sector to analysing the impact of a potential recession on the housing market, through detailed interviews with lenders, independent commentators and other mortgage specialists. Independent studies show that Mortgage Strategy is by far the leading and most valued brand in the market, with 75% of brokers naming Mortgage Strategy as their preferred magazine to keep them up to date on developments within the industry.

No comments yet.