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24th November 2016

Chancellor’s focus on housing commitment to keep Britain building

The emphasis on delivering new homes in the Chancellor’s Autumn statement shows a real commitment to increasing the rate at which Britain is building, according to Lincolnshire housebuilder Chestnut Homes.


In yesterday’s statement, Philip Hammond pledged to support the delivery of infrastructure for up to 100,000 new homes in areas of high demand as part of a new £2.3bn Housing Infrastructure Fund.


He also pledged to unlock land for development and to invest in the delivery of 40,000 additional affordable homes.


David Newton, Managing Director of Chestnut Homes – which is based in Langworth, near Lincoln – said that Mr Hammond’s focus on housebuilding in his speech showed real support for the nation’s developers and for people who aspire to buy a home of their own.


Mr Newton said: “We have a long and fruitful history of working with the government to deliver new homes under various funding initiatives, so we are pleased to hear of the new measures announced yesterday to support housebuilding across the country.


“We all know that we need more new homes to help meet levels of demand, and as a developer we are doing our part for Lincolnshire by building and selling more homes than we ever have in our last financial year.


“With initiatives like those announced yesterday giving a kick-start to building, and the Help to Buy equity loan scheme continuing to give a boost to buyers, it is encouraging to see action being taken at the highest level to keep the housing market buoyant and housing supply rising.”


Chestnut Homes is currently building in Lincoln, Scothern, Coningsby, Alford and Boston, with plans to build new developments in Dunholme and Market Rasen.


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