Chancellor of the exchequer Philip Hammond pledged £7.2bn for new housing over the next five years, almost a third of the total of the National Productivity Investment Fund.
Included in the total is a £2.3bn housing infrastructure fund, a £1.4bn investment in affordable housing, and funding for accelerated construction on public-sector land.
EY’s head of real estate, Russell Gardner, noted however that the headline numbers were eyecatching but that it needed a stretch of the imagination to believe new home supply could be unlocked for £23,000 each.
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