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Javid: Autumn Statement Boost To Housing And New Homes For Tees Valley

PRESS RELEASE ISSUED BY DCLG

Communities Secretary Sajid Javid today highlighted how plans for a multi-billion Government investment in housebuilding, could provide a boost in more new homes in Tees Valley.

The Minister made the comments on a visit to Central Park in Tees Valley – a development of over 350 new homes – all of which are available at a fraction of the deposit normally required thanks to the Government’s Help to Buy scheme.  There, he met apprentices starting out their construction careers on the site.

It comes as housing supply has reached an eight-year high – with nearly 2,000 homes started in the Tees Valley in the last year alone. Now Mr Javid believes the area will benefit from the £7.2billion Housing Infrastructure Fund announced in last week’s Autumn Statement.

Local authorities will be able to bid for funding for infrastructure such as new roads or utility connections such as water, energy and internet to unlock housing sites in high demand areas.

Communities Secretary Sajid Javid said:

“We want to ensure everyone has a safe and secure place to live and that means we’ve got to build more homes.

“It is only by building more houses that we will alleviate the financial burden on those who are struggling to manage.

“I have also been impressed by the talented young apprentices I’ve met today who are helping to build the new homes at Central Park that we desperately need.”

David Budd, Chair of Tees Valley Combined Authority, said:

“Tees Valley has very bold plans for skills, transport, infrastructure and housing. Today we had the opportunity to put forward proposals to the Secretary of State and demonstrate a strong case for more investment to help deliver our programme of devolution. We welcome his commitments to further investment in housing and we commit to a strong investment partnership to deliver new homes for the people of Tees Valley.”

Getting the country building again

This year’s Autumn Statement included comprehensive housing measures designed to address the needs of people at different stages of their lives – ensuring the housing market works for everyone and not just the privileged few.

Building firms, councils and housing associations from across the country, including the Tees Valley, will be able to bid for a share of a number of new funds including:

  • A new Housing Infrastructure Fund of £2.3billion to unlock new housing supply with the potential to deliver up to 100,000 new homes
  • £1.4billion to deliver an additional 40,000 affordable housing starts by 2020-21 – in addition, the Government will relax restrictions on grant funding so providers can deliver a mix of homes for affordable rent and low cost ownership, to meet the housing needs of people at different stages of their lives; and
  • £1.7billion funding to pilot ‘accelerated construction’ to speed up house building on surplus public sector land