Government announces £9m investment for new towns

The government will provide £9m towards the building of 200,000 new homes by 2050, it has announced.

The homes will be built in entirely new garden towns and villages across the UK.

Construction has already begun on 10,000 properties, with 36,000 more expected to have been started or completed by 2020.

Of the 21 sites selected for this investment, North Essex, comprising Colchester, Tendring and Braintree has the largest number of properties earmarked for construction, at 43,000.

Furthermore, the development plans include a 2,000 home site for custom and self-builders in Bicester.

While the additional funds will aid in supplementing further housing development, the figures the governemnt wants to see are 300,000 new homes built per year by the mid-2020s.

Housing minister Kit Malthouse MP comments: “We have not built enough homes in this country for the last three decades, and we are turning that around as we work towards our target.

“This £9m funding boost is giving councils the support and cash injection they need so they can finish planning new developments and get diggers on site.”


Bricks building housing construction

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Amicus Finance Plc enters administration

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Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders


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