The government has today (Aug 31) announced an allocation of £8.6billion to create nearly 200,000 new affordable homes across England in an initiative it describes as ‘part of the largest single investment in affordable housing in a decade’.
The Affordable Homes Programme funding could also support up to 370,000 jobs in home building and supporting industries, says the announcement,
Housing Secretary Robert Jenrick MP said: ”Creating more opportunities for home ownership is central to this government. This £9 billion funding is a landmark moment for our Affordable Homes Programme and will ensure good quality housing for all as we build back better after the pandemic.
“This huge funding package will make the ambition of owning a home a reality for families by making it realistic and affordable.
“We are also ensuring tens of thousands of new homes for rent are built in the years ahead, including social rent, so those on the lowest incomes can enjoy good quality, secure rented homes, built and managed by reputable providers.”
The announcement continues: “Today’s funding allocations are taken from the £11.5 billion Affordable Housing Programme which will deliver up to 180,000 new affordable homes should economic conditions allow. Nearly £5.2 billion of the package announced today will be delivered outside London by Homes England, the government body responsible for housing delivery. The Greater London Authority (GLA) will deliver homes within London.
“Nearly 90 new partnerships – made up of councils, housing associations and private providers – successfully bid for their share of programme funding.”
