MP Sajid Javid sets up £2.3bn fund for 100,000 new homes
UK communities secretary Sajid Javid has launched the £2.3bn ($2.9bn) Housing Infrastructure Fund, which could pay for the construction of 100,000 new homes where they are needed most, as well as facilitating investment in amenities such as roads, schools and healthcare centres. Speaking at the LGA Conference in Birmingham, Javid said the fund, which is part of the government’s £23bn National Productivity Investment Fund, will "make sure we have better public services in place for local communities." Following planning approval, it is expected that infrastructure work will commence immediately.

The communities secretary Sajid Javid (pictured above) has announced the launch of a £2.3bn fund which could deliver 100,000 new homes in areas of high demand.

Speaking in Birmingham at the LGA Conference yesterday (4th July 2017), he said that the investment would help to fund vital physical infrastructure projects such as the building of roads, bridges, energy networks and other utilities.

The funding will be made available through the Housing Infrastructure Fund and will also be used to help build new schools, healthcare centres and digital infrastructure.

Mr Javid said: “To build the homes this country needs, we need to deliver the right infrastructure in the right place at the right time.



Poll As a broker, do you currently quote 'green' loan options alongside standard loan quotes for property development finance? Yes No Vote Results





“The Housing Infrastructure Fund will also make sure we have better public services in place for local communities.”

Mr Javid added that by investing in local infrastructure, the government could help to build thousands of new homes in the areas where they are most needed.

It is expected that once proposals have been approved, local authorities would begin building infrastructure immediately, which would then be followed by housing.

The Housing Infrastructure Fund is part of the government’s £23bn National Productivity Investment Fund.

“Funding necessary infrastructure will give local authorities the opportunity to remove barriers to developments being delivered,” said Andrew Whitaker, planning director at the Home Builders Federation.

“Direct support for critical infrastructure will not only unlock more housing, it should also help to accelerate planned developments.

“Local authorities that plan for growth should be supported and that will, in turn, allow housebuilders to get on and deliver the homes our communities so desperately need.”