The Autumn Statement 2016…..Government expects to double spending on housing

Philip Hammond MP and Chancellor has announced a £2.3 billion Housing Infrastructure Fund to unlock housing sites, this should result in up to 100,000 new homes in high demand areas.  There will also be £1.4 billion funding to deliver 40,000 new affordable homes across all tenures.   In addition to these funds there will be relaxed restrictions on funding.  Government expects to double spending to deliver ‘ a housing market that works for everyone’ and Mr Hammond has expressed ‘ a step-change in our ambition to increase the supply of homes for sale and for rent’.

London will receive £3.1 billion for affordable homes delivery.

Philip Hammond MP has also announced a Housing White Paper to be published in due course to address the long term housing related challenges.

The Chancellor also announced large scale regional pilot of the Voluntary Right to Buy for housing association tenants in his autumn statement.

A full summary will be shared on the website in due course.