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Eric Pickles investing further £53m in new homes

Eric Pickles has announced that the government is to invest millions of pounds to boost the supply of new homes. He announced recently at the Chartered Institute For Housing conference.

During his speech Mr Pickles said the in excess of £53 million will be spent building new homes in an effort to ease the housing crisis across Britain. He went on to say that the Government is spending money across Kent, Swindon and Manchester and is committed to the long term building of new homes.

The government is setting aside over £1 billion over the next 5 years to invest in the Local Infrastructure Programme which will not only build new homes but will also create employment opportunities and get Britain building again according to Mr Pickles. He also claimed that since the government came to power in 2010 over 445,000 new homes have been delivered and house building is back to levels not seen since the 2007 crisis.

Not enough homes are being built

For decades we have not been building enough homes to meet the demand which has put pressure not only on house prices but also on the lettings market which has also resulted in tenants often living in below standard conditions. It has also led to an increase in rents which also piles misery of some of Britain’s 7 million tenants.

The UK currently need to build over 250,000 new homes just to meet current demand but only saw 115,000 built between 2009-2010. This number is lower than at any time since the 1920′s.