1. Home
  2. News
  3. September 2018
  4. £2 billion allocated to housing associations for affordable homes

£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.

Ready to get quotes?

We've already helped over 2,650,010 movers

12,650 user reviews

Website easy to use. I received 5 quotes and each of those companies were prompt in contacting me to explore further. I’m really happy with the service really moving offered.

Ruby66 on 16/06/2022

As featured in