The New Homes Accelerator will focus on accelerating the delivery of new homes, particularly in areas where there is a shortage of affordable housing. This initiative is expected to deliver 100,000 new homes over the next five years. The unit will be tasked with identifying and addressing the key barriers to development, including planning permission, infrastructure, and funding. It will also work with local authorities to streamline the planning process and reduce bureaucratic hurdles. The New Homes Accelerator will be funded by a combination of public and private investment, with the government contributing a significant portion of the funding.
These sites are all located in the planning permission stage and are ready for development. Reeves also announced plans to introduce a new housing supply policy, which will be based on a “housing needs assessment” and will be implemented in a “phased approach”. This policy will be used to determine the number of homes that need to be built in each area. The new policy will be implemented in a phased approach, meaning that it will be rolled out gradually over time. This approach aims to ensure that the government can monitor and adjust the policy as needed.
The intervention will focus on three key areas:
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