£68 Million Boost for Brownfield Development: Councils to Build 5,200 New Homes Across England

Local authorities will receive £68 million to develop thousands of housing units on previously developed land, known as brownfield sites. This funding is a segment of an initiative launched by Boris Johnson aimed at constructing residential areas on challenging, unused plots.

Tuesday, October 15, 2024, 08:

The government has announced that it will allocate £68 million to local councils for the construction of thousands of new homes on previously developed, unused brownfield lands.

Funding will be allocated to 54 local governments in England, aiming to create 5,200 homes on challenging locations like previously used industrial areas and parking lots.

The Labour Party has committed in its manifesto to the construction of 1.5 million new homes during the current five-year parliamentary term.

Sir Keir Starmer stated that the fresh investment demonstrates the government's commitment to "taking action and providing the transformation that the citizens of Britain deserve."

The allocation of funds is not a new development; it originates from the second iteration of the brownfield land release fund (BLRF2), initiated by Boris Johnson during his tenure as prime minister.

It has allocated £95 million to assist local authorities in the construction of an anticipated 6,800 residences.

In the latest allocation of the fund, up to £80 million was accessible; however, the Labour administration has opted to distribute only £68 million.

"Sir Keir stated, 'I declared that this administration supports the constructors, not the obstructers, and my statement was sincere.'"

This allocation of resources to local authorities will convert abandoned locations and old industrial areas into numerous new housing units in desirable residential and employment areas.

"Our strategy to prioritize brownfield sites will not only increase residential construction but also generate additional employment, provide essential infrastructure, and enhance economic development nationwide."

Funding allocations in this series comprise £2.9 million for developing 220 residences on an unused plot in Manchester, £1.7 million dedicated to constructing over 100 houses on previously developed land in Weston-Super-Mare, and £2.2 million for building 80 homes on an old industrial location in Eastbourne.

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Homes England, the governmental agency responsible for financing new affordable housing projects, has also declared a £30 million investment to support the Riverside Sunderland initiative. This project aims to transform previously industrial areas located to the south of the Stadium of Light.

The initiative aims to construct 1,000 residences and create room for 8,000 to 10,000 employment opportunities.

Housing Minister Matthew Pennycook stated, "The government prioritizes a brownfield-first strategy for housing development, and we've initiated measures to favor and expedite construction on previously developed urban sites by proposing a 'brownfield passport'."

"Today's announced funding will facilitate the creation of thousands of new housing units and stimulate economic expansion by enabling the development of numerous vacant, unused, and derelict urban locations throughout the nation."

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The news emerged that Bellway, a housebuilding company, saw its profits plummet by over 50% last year, prompted by a decline in new home orders as mortgage rates soared to their highest in 15 years, reaching 5.25%.

Income dropped 30.1% to £2.38 billion for the year ending July 31, a decrease from the prior year. The company's pre-tax earnings plummeted 62% to £183.7 million for the same period.

Home building decreased by 30.1%, totaling 7,654 units over the year.

The construction firm noted that at the beginning of the current fiscal year, there has been strong interest from buyers, aided by additional decreases in mortgage rates which have spurred an uptick in order placements.

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