Last reviewed 9 September 2021
Part of the largest single investment in affordable housing in a decade, the Affordable Homes Programme funding will deliver around 119,000 homes, including 57,000 for ownership, 29,600 for social rent and 6250 affordable rural homes.
Funding worth £8.6 billion is being allocated across the country by the Ministry of Housing, Communities and Local Government (MHCLG) which could support up to 370,000 jobs for homebuilders, SME developers and businesses involved in the house building industry such as electricians and plumbers.
The new funding allocations mark an important step towards the Government’s mission to deliver up to 300,000 new homes a year by the mid-2020s, Housing Secretary Robert Jenrick said.
“This £9 billion funding is a landmark moment for our Affordable Homes Programme and will ensure good quality housing for all as we build back better after the pandemic,” he went on.
Nearly £5.2 billion of the package will be delivered outside London by Homes England, the body responsible for housing delivery. The Greater London Authority (GLA) will deliver homes within the capital.
Nearly 90 new partnerships — made up of councils, housing associations and private providers — successfully bid for their share of programme funding.
CEO of Homes England, Peter Denton, said: “By forming Strategic Partnerships with a wide range of public and private organisations, we are creating the conditions needed for institutional investment to catalyse affordable housing supply and in future give local authorities more of the tools they need to plan and act strategically, shaping their communities and building new homes”.