The money is said to be part of the £5bn housing infrastructure fund which was set up to ensure new homes are continually being created to help aid the shortages of housing. The total figure of homes looking to be built is 200,000 this includes improved drainage systems in place as well as new footpaths being made etc.
Chancellor Philip Hammond said: “This fund finances vital infrastructure such as roads, schools and bridges, which will kick-start housing development in some of Britain’s highest-demand areas.
As you might be aware the government has set an aim to try build 300,00 new homes every year up until the year 2020. We all know that new properties take a high amount of resources this includes the essential services such as roads around the property, a defensive mechanism against flooding, water supply and much more. The government is aiming to speed up the process for housing by providing the highest of qualities infrastructure to create new communities.
Lastly, the investment is looking to fund 133 different councils – they will receive the money to help boost new homes within those areas. This should ideally relieve some pressure on the pricing especially for the first time buyers to get themselves on the property ladder.