£2 billion investment to build more affordable and social homes
New affordable and social homes are planned following the Prime Minister’s announcement that £2 billion will be given to housing associations.
A total of eight housing associations have already received an injection of funding, which should go towards the delivery of some 15,000 new affordable homes.
In the announcement, made at the National Housing Federation Summit, Prime Minister Theresa May said: “Under the scheme, associations will be able to apply for funding stretching as far ahead as 2028/2029, the first time any Government has offered housing associations such long term certainty”.
The provision of genuinely affordable housing across the country, but especially in London, is greatly needed.
The Prime Minister continued by saying the funding injection will give housing associations what they need to be build social and affordable homes where they are needed most.
The £2 billion initiative should at least give housing associations greater stability and certainty in knowing they can access funding to deliver the homes required.
The aim is for housing associations to take a greater role in the development of new homes, making sure homes are being built to high standards and where they are needed.
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