Since when did houses cost £12,500 Sajid Javid?

Posted on

Politics Home has reported this morning that:

Sajid Javid has pledged to spend more than £250 million to invest in 20,000 new homes in “areas of high demand” across the country.

The Chancellor said the money will come from the Housing Infrastructure Fund, which is aimed at improving road, schools and transport links across the Midlands, and the east and south east of England. In other words, it seems unlikely that this is new money. Despite which he said:

This £250m will increase the number of houses available to buy and help support people to achieve their dream of home ownership.

Note two things. The first is that the spending is going on the areas of highest need in the country:

Oxfordshire County Council will receive the largest slice of the cash, with £102m to build 5,050 homes.

A total £52.3m will also also go to Surrey County Council to pay for a water treatment facility and 1,500 homes.

So Tory then.

But more importantly, the implication of the headline is that £250 million pays for 20,000 homes. At which point I think Sajid Javid needs to get out his calculator. The total is £12,500 per house. That does not pay for a new house anywhere. This is just a thinly disguised bung to swing voters in marginal seats in the home counties. So Tory then.