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£2 billion allocated to housing associations for affordable homes

  1. 20 September 2018
  2. By Andi Michael

Addressing the National Housing Federation summit, Prime Minister Theresa May has confirmed that £2 billion in funding will be given to housing associations in order to create affordable and social housing.

The lack of affordable housing has been a concern for many, and whilst there has been some attempt to ensure a percentage of new developments include affordable properties, critics argue that it simply isn’t enough.

The £2 billion will be given to housing associations to build affordable and social homes, allocated over a period of 10 years, starting from 2022. Whilst this will allow housing associations to make long term plans in a way they have not been able to so far, some say the delayed start date is disappointing.

This news comes alongside London mayor Sadiq Khan’s focus on affordable housing in the capital. Mr Khan this week signed off on a housing development he had originally blocked, as it did not meet the affordable housing quota required. After amendments, the level of affordable housing in the 55 home plan rose from 17% to 35%.

With questions around the continuation of the Help to Buy Scheme in the news of late, we wonder whether the focus on affordable housing will continue and what form it will take in the future.

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