Philip Hammond

Autumn Budget 2018: Housing infrastructure fund to increase by £500m

Chancellor of the exchequer Philip Hammond has outlined the plans for the UK economy in the Autumn Budget 2018.


The most notable points for the development industry were:

  • an additional £500m announced for the housing infrastructure fund to unlock up to 650,000 new homes 
  • £675m of funding to create a high street fund to invest in improvements
  • from April 2021, a new Help to Buy equity loan scheme will run for two years before closing in March 2023
  • stamp duty abolished for first-time buyers on shared ownership purchases up to £500,000 
  • the number of first-time buyers is at an 11-year high
  • up to £1bn of funding through the British Business Bank to support SME housebuilders

The housing infrastructure fund will now total £5.5bn.

The £675m future high streets fund will invest in improvements to town centre infrastructure, reduce congestion, support redevelopment around the high streets and enable new housing and workspaces to be created.

Leave a comment