Robert Jenrick – the housing secretary, has committed £1.3 billion in a bid to create 45,000 new homes, 85,000 jobs, together with upgraded skills and infrastructure as the government boasts plans to aid the green economy recovery from Covid-19.
Over 300 projects in England are set to receive a portion of the £900 million Getting Building Fund.
This fund was announced in June by Prime Minister Boris Johnson, in an attempt to help kickstart “shovel-ready” housing and infrastructure projects.
Economically speaking, according to the government this investment is set to reduce CO2 emissions across England by around 65 million kilograms.
With the global economy showing indications such as the largest plunge in share prices since the 2008 financial crisis, and China’s economy threatening to contract for the first time in decades, how will the Coronavirus effect the property market?
Housebuilders thus far have been only been slightly affected, with small dips in their share prices.
The below leading housebuilders have been trading lower since mid-February, with their shares;
A 4% decline in planning applications between July and September 2019 has been seen compared to the same quarter in 2018, with District-level planning authorities receiving 106,500 applications.
Of these 106,500 applications, the statistics released by the Ministry of Housing, Communities and Local Government (MHCLG) show that 90,600 decisions were granted, which is around 88%, with 87% of the larger applications being decided within 13 weeks, or the agreed time
According to the release, paralleled to the same quarter in 2018, 2019 saw district councils grant: