UK funds £1m towards new garden towns

7 December 2015 (Last Updated December 7th, 2015 18:30)

The UK government has provided over £1m in funding to set up two new garden towns in Didcot in Oxfordshire and North Essex for up to 50,000 new homes.

The UK government has provided more than £1m in funding to set up two new garden towns in Didcot, Oxfordshire and North Essex for up to 50,000 new homes.

The proposals also include plans to build an additional 15,000 homes by 2031 in Greater Didcot garden town and new garden communities in North Essex, which can reach 35,000 new homes.

According to the government, the funding will help accelerate the work on constructing high-quality homes, new transport improvements, good schools, jobs and community amenities.

The UK has made changes to shared ownership rules and the prime minister said that this will open the door to 175,000 more aspiring homeowners.

"We are determined to support communities that are eager to boost the number of homes in their areas to meet local need, and this money will help get work up and running quicker."

It will facilitate the existing shared owners to move to another shared ownership home, without having to worry about the previous restriction where it was not allowed to use the scheme more than once.

The re-invigorated scheme will facilitate homeowners to use the capital they have gained to move to a bigger property, as their families grow or circumstances change.

Housing Minister Brandon Lewis said: "I've been really impressed by the level of ambition and vision shown by Didcot and North Essex and their determination to deliver new sustainable communities.

"We are determined to support communities that are eager to boost the number of homes in their areas to meet local need, and this money will help get work up and running quicker."