Theresa May has announced an extra £2bn for “affordable housing”, with funding for social rented homes in areas “where need is greatest”, in her closing speech to the Conservative Party conference.
It is no surprise, but nevertheless welcome, that the Prime Minister has announced an additional £2bn of investment into affordable housing, taking the Government’s total investment to £9bn. Whilst it is not entirely clear if the additional £2bn is to be allocated to new homes socially rented, it should translate into 20,000 – 25,000 additional homes.
The provision of high quality affordable homes to those on the lowest incomes will help thousands of families trapped in high rent low quality private sector lets and is therefore welcome. It’s now essential that the additional funding is put to work swiftly and invested in an intelligent and efficient way to ensure that its outcomes are maximised both physically and economically.