Up to £500m could back homes and regeneration in Greater Manchester

On 6 November 2026 the National Housing Bank, part of Homes England, and the Greater Manchester Combined Authority announced an agreement that could support up to £500 million of investment in new homes and mixed-use regeneration across the city region. That figure is a ceiling for potential finance, not money already paid out, projects approved or homes built.

How the finance would work

Potential investments would sit alongside the existing Greater Manchester Good Growth Fund. A project must fit the National Housing Bank's mandate, and every proposed investment is subject to the bank's own due diligence, governance and approval processes. The announcement does not name recipients, allocate amounts to particular sites or set construction dates. The agreement covers Greater Manchester in England.

What it means for developers and local firms

The agreement could create more finance options for viable housing and mixed-use schemes, including regeneration work. It is not an automatic grant for builders, landlords or homebuyers. The Combined Authority's Good Growth Fund page says project proposals normally start with the relevant local authority where the project is based. A separate social and affordable housing allocation accepts proposals on a rolling basis without a fixed deadline; it has its own conditions and does not automatically open access to the new up-to-£500 million arrangement.

What to do now

If you have a scheme in Greater Manchester, prepare its location, delivery plan, financial model and case for local benefit. Check current Good Growth Fund opportunities and approach the relevant local authority or the fund team using the contact details on its official page. No separate application deadline or direct application terms for the new agreement have been announced.

Official sources: National Housing Bank and Homes England announcement; Greater Manchester Good Growth Fund.