Social housing investment boost confirmed

As part of the drive to build the homes communities need, Housing Secretary James Brokenshire has announced a multi-billion pound boost to social housing across England.

The government claim that approximately 23,000 new affordable homes will be delivered through a £1.67 billion government investment deal, which will include at least 12,500 social rent homes in high cost areas in a move to support families struggling to pay their rent.

Brokenshire also revealed plans for a new generation of council housing by inviting local authorities to bid for a share of £1 billion extra borrowing to build much-needed homes. This £1 billion borrowing cap raise will be split equally between London and the rest of England.

Brokenshire said: “The government has ambitious plans to fix the broken housing market and build the homes our communities need. This announcement is a further milestone. It will secure the delivery of an additional 23,000 much-needed affordable homes as well as paving the way for a new generation of council houses. The majority of these new homes will be in high cost areas helping to ease the burden of rent on hard working families and delivering stronger communities.”

The announcement follows a Chartered Institute of Housing poll which found that more than six out of 10 people across England support more social housing being built in their area and that 80 per cent of people agree that social housing is important because it helps people on lower incomes get housing which wouldn’t be affordable in the private rented sector.