The deputy prime minister Angela Rayner MP has announced a £350 million top-up to its affordable housing fund, adding to the £500 million pot already pledged in last October’s budget. Most of the new funding – £300 million – is earmarked be used to boost the government’s affordable homes programme.
She says this extra cash will fund 2,800 additional homes, including more than half for social rent. Meanwhile, £50 million has been pledged to the local authority housing fund to pay for an expected 250 extra council homes.
Stephen says that while the target of building 1.5 million new homes in the next five years is highly ambitious, the move shows the Government is at least committed to addressing the national housing shortage, which has to be seen as at least ‘something positive’.
He adds: “We currently have a number of schemes throughout the region ‘oven ready’ that could benefit from this announcement. This would allow construction activity to start in the near future and help us deliver hundreds of new affordable homes.
“We are committed to delivering high quality, affordable and attractive affordable accommodation for social housing providers across locations in the North of England that meet varying levels of need. This sees us delivering homes that enable people to continue to live as independently as possible in the community.
“This extra money is a welcome contribution to affordable house builders’ strategies; helping to maintain momentum in the delivery of much needed social and affordable housing ahead of the new Affordable Homes Programme being announced at the Spending Review.”