Speaking on Radio 4’s Today programme recently, the housing and planning minister Matthew Pennycook confirmed that the number of proposed sites has been reduced.
Plans for five new towns have been ditched with only three ‘breaking ground’ before the end of this Parliament, a Government minister has confirmed.
Speaking on Radio 4’s Today programme, the housing and planning minister Matthew Pennycook confirmed that the number of proposed sites has been reduced to seven locations.
It is down from a dozen sites suggested in September last year.
Pennycook explained seven sites had been chosen as they represented the “best growth prospects to tackle the housing crisis at scale”.
Each proposed site is expected to deliver at least 10,000 homes, which is some way off the Government’s manifesto pledge to build 1.5 million homes before the end of the Parliament.
Pennycook went on to say that building would begin on only three sites before the end of this Parliament.
These are in Thempsford in Bedfordshire, Crews Hill and Chase Park in Enfield, and Leeds South Bank in West Yorkshire.
He said “we want to get spades in the ground on at least three of the sites. We want to hit the ground running on all of the final propositions as soon as we can.”
The other four sites are at Manchester Victoria North in Greater Manchester, Thamesmead in Greenwich, Brabazon and the West Innovation Arc in South Gloucestershire, and Milton Keynes in Buckinghamshire.
Pennycook said the building programme is currently under consultation and the final locations will be confirmed in the summer.
The Government insists that its pledge to build 1.5 million homes before the end of this Parliament is still on target.
Housebuilding target
Pennycook said "the target is going as broadly as expected, although the headwinds are getting stronger for very obvious reasons. Net housing completions stood, I think, at just over 340,000 as of March 15. But we always expected numbers in the early years of the Parliament to be low. We are still aiming for that target. I am still absolutely confident that we are going to get to high and sustainable housebuilding in the latter years of the Parliament.”
The locations of seven new towns have been named for consideration by the government.
Details on the proposed locations are:
- Manchester Victoria North, Greater Manchester; at least 15,000 homes regenerating the heart of Greater Manchester, with a new Metrolink stop connecting residents to jobs across the city;
- Thamesmead, Greenwich; up to 15,000 homes unlocking inaccessible riverside land in London, enabled by the planned Docklands Light Railway extension;
- Brabazon and the West Innovation Arc, South Gloucestershire; up to 40,000 homes at the heart of a world-class research and advanced engineering economy;
- Milton Keynes, Buckinghamshire; building on its history as one of the original new towns, to take forward the ‘renewed town’ vision to expand the city by around 40,000 homes and reinvigorate the centre with a new local transport system, boosting connectivity in the Oxford-Cambridge Growth Corridor.
- Tempsford, Bedfordshire; up to 40,000 homes built around a new East West Rail station, linking residents to Cambridge, Oxford, London and Milton Keynes;
- Crews Hill and Chase Park, Enfield; up to 21,000 homes helping to meet London’s acute housing need;
- Leeds South Bank, West Yorkshire; up to 20,000 homes capitalising on the city’s economic momentum and the government’s £2.1 billion local transport investment;
Alongside the new towns consultation, the government has also confirmed that the National Housing Bank will launch on April 1.
It will be backed with up to £16 billion of financial capacity and will aim to deliver over 500,000 new homes.
National Housing Bank launches with plans to deploy up to £16 billion
Homes England has officially launched the National Housing Bank, with the aim of supporting the delivery of up to 500,000 new homes.
The National Housing Bank is a new government public financial institution with the authority and ambition to accelerate the delivery of new homes and communities, while also enabling the regeneration of towns and cities across England.
Backed by the UK government, the National Housing Bank will work with housebuilders, developers, investors and registered providers to deploy up to £16 billion of debt, equity and guarantees. The bank will also work with Mayors through Homes England’s new regional model to strengthen collaborative working with partners and leaders.
A subsidiary of Homes England, the bank is powered by the Agency’s expertise and will support the delivery of more than 500,000 homes and a raft of major regeneration and mixed-use schemes, alongside unlocking more than £53 billion of private investment over the next ten years.
The National Housing Bank’s launch on Wednesday, 1 April is supported by Homes England’s new Investment Prospectus. With the bank at its core, the Investment Prospectus brings together for the first time Homes England’s full range of capital products, land, powers and technical expertise in one public document, making it easier for local leaders and partner organisations to understand the role the Agency and the National Housing Bank can play in delivering their pipeline of housing and mixed-use schemes.
Headquartered in Leeds, the National Housing Bank will move quickly to back shovel-ready schemes. It launches with the announcement that Homes England has contracted a new £100 million partnership with Aviva. Its objective is to build up to 3,300 homes for rent in underinvested areas of cities, including an initial 300 in Liverpool and Manchester.
Housing secretary Steve Reed said: “Launching England’s first ever National Housing Bank underpins a new way of doing things as we accelerate housebuilding at scale and tackle the housing crisis head on. Now open for business, the Bank will rake in billions of pounds of essential private investment to get spades in the ground for half a million new homes. This is just one of the many levers we’re pulling to make sure we reach our 1.5 million target this Parliament. People want real change, homes they can afford, local infrastructure that works, and good jobs in thriving communities. Our next generation of new towns marks a turning point in how we build for the future. From the ground up, we’re planning whole communities with homes, jobs, transport links, and green spaces designed together, so we can give families the security and opportunities they deserve.”
Homes England chair Pat Ritchie said “the opening of the National Housing Bank and launch of the Investment Prospectus build on Homes England’s expertise at providing a wide range of finance to partners and places to unlock the delivery of new housing and mixed-use schemes. The National Housing Bank directly responds to calls from the housing sector, mayors and local leaders to increase the scale and flexibility of available public and private finance for housing and regeneration, to build the homes and communities our county needs. Our Investment Strategy puts place at the heart of how we invest, developing innovative tailored packages of support for the whole housing and regeneration system, bringing together grant, debt, equity, guarantees, land and expertise around local priorities.”
Simon Century, chief executive of the National Housing Bank, said “the National Housing Bank will back delivery at scale and act at pace, providing government-backed finance to de-risk projects and unlock delivery the market cannot change alone. Our ambition and scale as a public financial institution creates the conditions for long-term, stable investment, focusing on delivery and giving investors confidence while enabling more innovative, scalable delivery models. With delegated authority, we will take decisions quickly and proactively, acting as an enabler, not a barrier, to the market."