Chancellor Rachel Reeves revealed her Spending Review on Wednesday, outlining the government’s financial plans for the coming years. A significant portion of the budget is dedicated to constructing more affordable homes across the UK.
Have your say! Is the “affordable housing” in your area accessible to people on low incomes? Should there be more council houses, shared ownership, or social rent properties? Comment below, and join in on the conversation.
An ambitious £39 billion over the next decade has been committed to facilitate the creation of affordable and social housing, as the government aims to meet its goal of erecting 1.5 million new homes during this Parliament. The Chancellor expressed her commitment to providing individuals with the “security of a proper home”, describing it as a strategy to address the “scale of the housing crisis”.
This funding will be channelled to council and social housing providers who must compete for the grants, as reported by the Mirror. The announcement has been met with praise from industry leaders, including Kate Henderson, chief executive of the National Housing Federation, who remarked: “This is a transformation package for social housing and will deliver the right conditions for a decade of renewal and growth.”
Mairi MacRae, director of campaigns and policy at Shelter, commented: “This increased investment is a watershed moment in tackling the housing emergency. It’s a huge opportunity to reverse decades of neglect and start a bold new chapter for housing in this country.”
The new scheme aims to encompass a range of ‘affordable homes’ options, such as shared ownership, affordable rent, social rent, and first homes.
Britain’s housing crisis has hit all corners of the nation, leaving many young or low-earning workers trapped in rental properties, with the dream of saving for a deposit seeming unattainable. Some individuals are forced to endure subpar or hazardous living conditions, while others have experienced life in house shares and HMOs.
Experts have cautioned that social homes must be the main focus for the fresh investment. Shelter, a charity tackling homelessness, revealed that the current Affordable Homes Programme (AHP) had resulted in over 74,000 grant-funded affordable homes by March 2024, but only about 11,000 – a mere 15% – were truly affordable social rent homes.
Housing activist Kwajo Tweneboa commented: “This announcement has potential – but without clear social housing targets, it risks becoming another promise that won’t deliver change for the children and families who need it most.”
Have your say! Is the “affordable housing” in your area accessible to people on low incomes? Should there be more council houses, shared ownership, or social rent properties? Comment below, and join in on the conversation.
