Propertymark has welcomed the latest wave of funding that is now available to councils across the country through the Brownfield Land Release Fund, designed to increase the much-needed supply of new homes.
Councils can now apply for a share of the new £180m Brownfield Land Release Fund 2, which will help to transform disused urban areas into 17,600 new homes and create around 54,000 jobs over the next four years.
An initial £40m is available to support local regeneration projects, releasing council land for around 4,000 new homes, and creating 12,400 jobs. The move will boost local economies and help thousands of young people and families into homeownership. The remaining £140m of the Brownfield Land Release Fund 2 will be made available to councils over the next two years.
The scheme forms part of the government’s plan to level up communities across the country, but Propertymark is concerned that too much emphasis is placing on the north of England, and that more investment is needed to boost housing supply in many other parts of the country.
Eleanor Bateman, policy officer at Propertymark, commented: “As housing supply continues to fall short of what is needed, it is positive that the UK Government has launched a new round of Brownfield Land Release Funding, which is vital for bringing forward publicly-owned brownfield land and meeting local housing targets.
“But while the Levelling Up agenda is likely to mean that much of the investment goes to the north of England, the UK Government must not overlook mounting affordability pressures in other parts of the country.
“Housing delivery is more than simply a numbers game, and location, tenure and type must continue to be priorities if the UK government is truly committed to boosting supply to accommodate all needs.”
SOURCE: Property Industry Eye | JULY 12, 2022 | MARC DA SILVA
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