The Financial Times newspaper reported on Monday that the Government is expected to announce a big increase in the number of government-owned brownfield sites that will be made available for building new homes.
New figures show that government-owned land could be used to deliver 83,500 new homes, instead of the previously announced number of 50,000.
Earlier this year, the Government announced that it would build up to 100,000 new homes on public land by 2015 under the ‘build now, pay later’ scheme. Under this scheme, developers do not have to pay for the government-owned land they are building on until the homes are complete, thus easing pressure on cash flow. Click here for further details of this scheme.
A further announcement on brownfield site release is expected to be announced by the Government in its housing strategy, which is due to be published later this month and before the Chancellor of the Exchequer’s Growth Review on 29 November 2011.
