Housing: Construction

Department for Communities and Local Government written question – answered on 14th July 2017.

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Photo of Mike Kane Mike Kane Shadow Minister (Education) (Schools)

To ask the Secretary of State for Communities and Local Government, what proportion of the Home Building Fund has been allocated to property developers in each region since October 2016.

Photo of Alok Sharma Alok Sharma Minister of State (Communities and Local Government)

In October 2016, the Government launched the £3 billion Home Building Fund, a fund which will provide loans for SME builders, custom builders and offsite construction, and which will unlock large sites throughout England. The £3 billion Home Building Fund is broken down into two funds:

The £1 billion short term fund (STF) is available to small builders, custom builders and innovators and the £2 billion long term fund (LTF) is to deliver infrastructure and site preparation for large sites, including brown field.

The below table presents, the proportion of the Home Building Fund (in terms of projects supported) in each region, as recorded by the Homes and Communities Agency, and broken down into long term funding and short term funding. Percentages may not total 100 per cent, as they are rounded to the nearest per cent.

HCA Region

LTF

STF

East & South East

31%

6%

London

25%

3%

Midlands

19%

18%

North East, Yorkshire & Humber

13%

41%

North West

0%

14%

South & South West

13%

13%

National

0%

5%

National projects are projects where sites are being delivered over multiple areas. This category also includes the £50 million which has been committed to the Housing Growth Partnership.

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