Autumn Budget 2017: Chancellor promises £44bn injection into housebuilding

The Chancellor Philip Hammond has announced plans to boost housebuilding as part of his Autumn Budget. In what he described as the ‘biggest annual increase in housing supply since 1970’, the Chancellor has pledged to increase the construction of new homes to on average 300,000 a year by the mid-2020s.

To accomplish this, the Chancellor revealed that the Government will provide at least £44bn in capital funding, guarantees and loans to bolster the housing market in the UK over the next five years. This includes £1.1bn of funding to unlock strategic new sites for development and a crucial £1.5bn boost to the Home Building Fund, designed to better support SME housebuilders competing against major, national developers.

“This will undoubtedly be welcome news for the housing sector, especially as the Government commits to better supporting the small and medium sized housebuilders who are needed to work alongside the likes of Bloor, Barrats and Bovis,”

Comments Jade Greenhow, General Manager at Insight Data.

“But of course, this makes for great reading for the fenestration and construction industries with extensive funds earmarked for housebuilding and fresh demand for building products. Now is the perfect time for businesses in the industry to connect with housebuilders, developers and main contractors to promote their products lines and their ability to service any planned developments.”

Through their accurate, industry-specific data and market intelligence, Insight Data helps businesses across every sector to effectively target potential customers. As part of Insight’s five key databases, the firm holds up-to-date contact details and business information for housebuilders and main contractors – making up their ‘Construction File’.

Insight’s unrivalled data is accessed through Salestracker, their innovative online prospect database, CRM system and integrated email marketing platform. Insight also works with customers on powerful direct mail and email marketing campaigns to a highly-targeted data group whether it’s across one region or nationwide.

For more information contact Insight Data on 01934 808293 or via email at hello@insightdata.co.uk.