Government announces funding for new London homes

The government has announced that it will allocate £570m to deliver new homes near transport links in London.

The homes will be built across two sites – Old Oak Common, near East Acton, and Brent Cross.

The former will see £250m used to provide 13,000 new homes near the new HS2 railway station.

Meanwhile, the latter is expected to receive £320m of funding towards the construction of the new Brent Cross West Thameslink station, which the government says is essential to unlock 7,500 new properties.

The measures are part of the governments plan to provide 300,000 new homes per year by mid-2020s.

The money comes from the Housing Infrastructure Fund launched in July 2017, which later received a boost to the tune of £500m in late October.

Communities Secretary James Brokenshire comments: “We are working to create homes, opportunities and thriving communities, especially in London which faces the most severe and unique housing pressures in the country.

“The HS2 station at Old Oak Common will offer a new gateway to London, while a new station in Brent Cross can be the catalyst to build thousands more much-needed homes.

“Together, this £570m package of investments will allow thousands of families the opportunity to realise their dreams of home ownership.

“It will provide up to 20,000 new homes, support new jobs and benefit from new transport infrastructure.”

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