Healy confirms £146m incentive to build more homes
Published: 08 April, 2010
UK: Councils are to get a share of a £146m million fund to plan and deliver new homes, Housing Minister John Healey stated.
The Housing and Planning Delivery Grant backs the commitment set out by the Government to build more social housing. This includes an extra £1.5bn towards the construction of 110 000 new affordable homes over the next two years.
The grant provides a direct incentive for councils to work with partners in the public and private sector to ensure that new homes are built where they are needed. It is an additional top-up to mainstream funding.
Mr Healey said: "The need for more homes remains despite the recession, and we are determined to see more homes built to help improve affordability – particularly for first-time buyers, reduce pressure on waiting lists and address over-crowding.
"A shortage of new houses pushes up house prices, council waiting lists and private sector. This incentive will also ensure that all councils are taking action now and will give the housebuilding industry greater certainty and confidence in the economic recovery."