£1bn of new investment available for housing schemes up to 2020

As part of the Autumn Statement, Chancellor George Osborne announced £1bn of new investment under the Local Infrastructure Fund, which accelerates the delivery of locally supported, large scale housing schemes by investing in upfront works – such as installing utilities or linking to existing road networks – through commercial loans or equity investment.

According to a news report, the Homes and Communities Agency (HCA) welcomed the announcement, especially due to the fact that it will see investment covering the period up to 2020, with up to 250,000 new homes being built until then.

HCA Chief Executive, Andy Rose, said: “An additional £1bn for large scale housing developments demonstrates the Government’s commitment to supporting housing throughout the next spending period.

“It is also recognition that the HCA’s current LIF programme is speeding up delivery, at sites such as Cranbrook near Exeter where £20m LIF funding has helped unlock one of the largest and most significant housing and employment developments in the country.

“This is core business for the HCA and sites like Cranbrook play a huge role in supporting local aspirations for growth.”

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