Autumn budget: Sunak’s ‘£24 billion housing settlement’ at-a-glance

The chancellor Rishi Sunak has announced a “multi-year housing settlement totalling nearly £24bn” in today’s budget and spending review.

However most of the funding had been announced previously.

As expected, the chancellor confirmed a £1.8bn fund to bring brownfield land into use for housing development which he said will be “enough to bring 1,500 hectares of land“ into use. This will be made up of £300 million for councils and mayoral combined authorities to unlock smaller brownfield sites for housing and £1.5bn to regenerate underusued land and deliver transprot and community facilities. The fund will deliver 160,000 homes in total, the government said.

Sunak also confirmed the £11.5bn affordable homes programme will go ahead as stated last year to deliver 180,000 homes.

He also listed the £5bn building safety fund, supported by the £2bn new residential property developer tax, along with £640m to tackle rough sleeping and homelessness in his list of housing pledges.

Measures announced alongside the heat and building strategy last week including £950m for councils to help people upgrade their homes and the £800m social housing decarbonisation fund were also part of the spending review package of proposals.

It was not immediately clear where Sunak’s figure of ‘nearly £24billion’ comes from. The budget documents show the Department for Levelling Up, Housing and Communities’ departmental capital budget totals £22.6m over the three-year spending review period.