Chancellor announces nearly £2bn for housing on brownfield sites
The Government has announced £1.8bn in funding to turn brownfield sites into housing and this could create around 160,000 new homes. These homes are being billed as part of the government’s agenda to reach net-zero emissions by 2050. Recently, the NHBC announced that the volume of housebuilding had fallen in the three months to September. This is likely to have been an impact of the labour and material shortages being suffered by the construction industry.
The Chancellor has also announced £65m to digitise the town planning system: the first phase of the upgrade will be rolled out to up to 175 local authorities in England. There will also be an additional £9m to build “pocket parks” in various urban areas across the UK. These parks will be the size of a tennis court with an aim to provide more access to green spaces in the cities. This comes as welcome news to the construction sector.
Greenwoods GRM says:
“The brownfield land injection includes £300m to unlock smaller brownfield sites for housing. I hope that this will aid SME Builders who have suffered the worst of the materials crisis with larger entities buying up and storing goods in bulk, for example for large projects like HS2.”
Kathryn Gilbertson, Head of Regulatory:
“Developers will need to assess and quantify remediation of these brownfield sites. Using sustainable regeneration, they can also support the Govt’s net zero goals.”
Sam East, Real Estate Partner
“Apparently, brownfield sites covering the equivalent of 2,000 football pitches could be turned into plots for new homes. This has the potential for hundreds of thousands of homes to be built on regenerated land across the country, which the announced overhaul of England’s planning system, which includes a raft of digitisation, would support. The devil as ever will be in the detail.”
This update is for general purposes and guidance only and does not constitute legal or professional advice. You should seek legal advice before relying on its content. This update relates to the prevailing circumstances at the date of its original publication and may not have been updated to reflect subsequent developments. If you have general queries about our updates, please email: firstname.lastname@example.org