£2bn for new homes announced

Communities secretary Sajid Javid has launched a £2.3 billion fund aimed at unlocking sites for 100,000 new homes in areas of high demand.

The money is being invested through the Housing Infrastructure Fund, which forms part of the £23 billion National Productivity Investment Fund.

Both funds were announced by chancellor Philip Hammond in the 2016 Autumn Statement.

Javid told the Local Government Association (LGA) conference that the investment would help to fund the building of 'vital physical infrastructure projects' such roads, bridges and energy networks, 'the absence of which continues to hold housebuilding back'.

The funding will also help to build schools, health care centres and digital infrastructure to accommodate growing communities and alleviate pressure on public services, according to the government.

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