STORY
The Government has announced the first allocations from its £39 billion Social and Affordable Homes Programme, with councils and housing associations set to receive funding to build thousands of new homes across England.
Ministers say the programme will represent the biggest increase in investment in social and affordable housing for a generation. The first phase includes around £10 billion of investment and is expected to support approximately 70,000 homes, with around 60% intended for social rent. Three councils will also become strategic partners in the programme, allowing them to plan longer term building programmes rather than bidding separately for individual schemes.
The wider programme is intended to deliver around 300,000 affordable homes over the next decade. The Government says increasing the supply of social rented housing will provide greater security for families struggling with high private rents, although ministers will remain under pressure to demonstrate that the promised homes can be delivered quickly enough to address existing waiting lists.