Mike Freer MP has today welcomed the news that £29 million has been granted to Barnet Council as part of the Government’s New Homes Bonus. The £29 million, which has been provided by central Government, has so far granted cash to support the delivery of over 1,100 new homes being built in the Borough of Barnet in the last year alone. Of the 1,100 built, nearly 400 were affordable homes for rent or part rent/part buy.
Mike Freer comments “The cost of buying a home is one of the biggest concerns of anyone living in London. Therefore, I am delighted that Barnet is in the top 10 London Boroughs for housebuilding. We have now had over 6,200 new homes built locally since 2010 with many more on the way. Only by getting Britain building again can we ensure that owning your own home becomes a reality”.
The New Homes Bonus provides local councils with a cash incentive paid by central government for increasing the number of homes available. The amount paid is based on the level of extra Council Tax revenue raised for new-build homes, conversions and for bringing empty properties back into use. There is also an extra payment for providing affordable homes.