Home | BUILDING BRITAIN | Government commit extra £1.67 billion investment in social housing
Government commit extra £1.67 billion investment in social housing
Government commit extra £1.67 billion investment in social housing

Government commit extra £1.67 billion investment in social housing

The Secretary of State for Communities has confirmed that £1.67 billion will be invested to boost the construction of social housing.

James Brokenshire MP released details of the extra funding which is part of the government’s wider £9 billion investment in affordable homes.

It is part of the Prime Minister’s overall commitment to affordable housing which she reiterated at last year’s Conservative Party Conference by increasing the amount to be invested.

Part of the push to build the homes needed in communities across the country, this £1.67 billion injection of funding will provide approximately 23,000 homes, 12,500 of which will be social housing that support families in high cost areas.

And Mr Brokenshire believes this funding, and the wider investment will eventually provide a “new generation of council houses.”

He said: “The government has ambitious plans to fix the broken housing market and build the homes our communities need.

“Today’s 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.”

As part of the £9 billion for affordable homes, a previous investment of £1.67 billion – announced in March – was allocated for London.

This latest funding however, will be used for housing all over England.

The government has committed to building 300,000 new homes each year by the mid-2020s to help to tackle the housing shortage that the country is suffering from.

The new measures outlined will help with these housing targets and, through planning reform and targeted investment, the government hope to increase the number of new homes by 1.5 million by 2022.

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