Chancellor Philip Hammond has delivered the Autumn Statement and outlined new spending on housing totalling £3.7bn in England which will create 140,000 new homes. This will be welcomed by the building industry and by the UK population with less than two-thirds owning their own home.
The Chancellor has committed to fund:
• £2.3bn housing infrastructure fund to help provide 100,000 new homes in high-demand areas
• £1.4bn to deliver 40,000 extra affordable homes
Local authorities will be able to bid for the money under one of three existing schemes: Affordable Rent, Shared Ownership or Rent to Buy. The money will top up the existing £4.7bn being spent on grants for affordable housing over the next five years.
We will continue to work with our clients and the industry to ensure that housing is designed and built as sustainable and energy efficiently as possible and that this is at the forefront of our futures.
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