Published 6th July
Following unavoidable delays in the construction industry due to coronavirus, it is estimated that the building of 53,000 new affordable homes have stalled. The Government is stepping in to safeguard funding, extending the current Affordable Homes Programme until March 2023.
Homes to be built under the Government’s £9 billion scheme originally needed ‘shovels in the ground’ by March 2022. However, this announcement means that housing associations and councils have a year longer to begin building these homes while still receiving Government support, giving them the flexibility and certainty they need to keep building across the country.
The announcement follows confirmation last week that the new £12 billion Affordable Homes Programme – which will start next year – will support up to 180,000 new affordable homes, including for shared ownership and social rent. The programme will lead to a further £38 billion in public and private investment in affordable housing.
For more information go to the Government website (opens in a new tab)
(See also ‘Slums of the future’ may spring from relaxed England planning rules, experts warn – opens in the same tab)