Angela Rayner has set out plans to construct round 300,000 inexpensive homes with the £39bn of funding she secured from the spending overview.
The Deputy Prime Minister and housing secretary provides that at the very least 60% of homes will probably be for social hire, linked to native incomes, which might imply delivering round 180,000 homes for social hire. This determine is six occasions higher than the last decade as much as 2024.
The housing division provides: “Living standards for tens of millions of social housing tenants will even be pushed up underneath new plans to replace and modernise the Decent Homes Standard, which will probably be prolonged to privately rented homes for the primary time, and minimal vitality effectivity standards will probably be carried out for the primary time within the social housing sector.”
The division will even lay out “transformative adjustments” to Right to Buy and different measures to guard native council housing shares, underneath the Social and Affordable Homes Programme introduced throughout final month’s spending overview.
Rayner says: “With funding and reform, this authorities is delivering the largest enhance to social and inexpensive housing in a era, unleashing a social hire revolution, and embarking on a decade of renewal for social and inexpensive housing on this nation.”
Housing company Homes England will probably be chargeable for delivering nearly all of the funding, with as much as 30% of funding — as much as £11.7bn over the ten years — getting used to help housing supply from the Greater London Authority within the capital.
The housing division provides that the Social and Affordable Homes Programme will provide “extra certainty for builders” to spend money on housebuilding for the longer term, in comparison with the earlier five-year £12.3bn Affordable Homes Programme.
It says the Affordable Homes Programme averaged £2.3bn of spending a yr, whereas the division’s new plan will ramp as much as spend £4bn a yr by the tip of this Parliament.
The authorities will set out a brand new 10-year settlement for social housing rents, which will probably be launched next April “to offer the social housing sector with the knowledge they should reinvest in current and new housing inventory”.
