A new Housing Infrastructure Fund (HIF) has opened for bids from English local authorities to help create the infrastructure needed to unlock house building.
Launched by Communities Secretary Sajid Javid at the recent Local Government Association Conference in Birmingham, the £2.3 billion Housing Infrastructure Fund has the potential to unlock 100,000 new homes in areas of high demand. The fund was originally announced in the 2016 Autumn Statement.
The fund is available to councils to finance the physical infrastructure projects necessary to bring on housebuilding, such as bridges, roads and energy networks, which otherwise hold housebuilding back.
Investment will be available to fund new schools, healthcare facilities and digital infrastructure that is necessary for new communities, while alleviating pressure on existing public services.
Like much of current Government focus, there is an expectation on speed of delivery, with councils expected to move quickly from approvals to creating the infrastructure, swiftly followed by housing.