The North of England is to receive £30 million of investment to advance the construction of greener housing, the Housing Minister has announced.
The £30 million is being directed into Yorkshire, which forms part of the so-called ‘Construction Corridor’, to boost businesses in the region. The funds are being allocated from the Home Building Fund, a £4.5 billion fund delivered by government housing agency Homes England.
The investment comes as part of the government’s strategy to create the industry that will deliver Carbon Free Homes. It has said that zero carbon homes could represent an industry worth £40 billion a year and create 80,000 new jobs.
The announcement from Housing Minister Esther McVey MP comes a week after the government said it would be creating a centre of excellence in the north for Modern Methods of Construction. The objective is to speed-up housebuilding to help meet the government’s target of 300,000 new homes being delivered each year by the mid-2020s.
“The North of England has the potential to lead the world in the modern methods of construction that are transforming home building, an industry that when matured would be worth £40 billion a year and provide up to 80,000 jobs,” Ms McVey said. “We need to fully embrace this.
“It’s vital we invest in new technology to get Britain building. Homes built using modern methods can be of higher quality, greener and built to last.”
This post has originally been featured in Property Wire.