The Plan for Neighbourhoods scheme in Rachel Reeves’s Spending Review will deliver a £500 million investment boost to 25 deprived areas and, at the same time, generate significant opportunities for both estate agents and investors.

Hidden amongst Rachel Reeves’s headline-grabbing £39 billion housing investment announcements, the programme aims to regenerate  25 ‘trailblazer neighbourhoods,’ with each receiving funding of up to £20 million. It’s an initiative, the Government hopes, will help it hit its 1.5 million new homes target.

Local neighbourhood boards, comprised of residents and businesses, will control how the money is spent, working with councils to develop 10-year regeneration plans.

Funding breakdown

Three-quarters of the funding – £15 million per area – will go on capital projects, including acquiring land, buying properties for renovation and upgrading housing stock, with delivery beginning in April 2026. Each area will receive an initial £200,000 in 2025-26 to help establish the initial governance structures.

Money can also go towards upgrading shops, pubs and housing stock in the target neighbourhoods.

Property market impact

Regeneration schemes typically also draw in considerable outside investment and drive up both the quality and price of local housing stock.

And, with locations spread from Hull to Newcastle, Blackpool to Swindon and even properties in adjacent areas benefiting from the regeneration effect, it is likely to provide a nationwide investment opportunity.

Locations

England: Bentilee and Ubberley (Stoke-on-Trent), Brinnington (Stockport), Central Stockton and Portrack, Little Carleton and Little Layton (Blackpool), North Walker (Newcastle), Penhill (Swindon), The Avenues (Hull), Thorntree (Middlesbrough), plus areas in Bradford, Burnley, Dover, Great Yarmouth, Hastings, Luton, Oldham, Plymouth, Portsmouth, Rochdale, Southend-on-Sea, Walsall.

Scotland: Areas in Glasgow, Edinburgh and Dundee.

Wales: Areas in Swansea, Rhondda Cynon Taf.

Northern Ireland: Belfast.