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.