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28/10/2014

An £800m boost for affordable homes

Words: Laura Edgar
Brandon Lewis

Housing minister Brandon Lewis has announced that housing associations are now able to bid for a share of around £800 million of government funding so they can deliver more affordable homes.

This is in addition to the £886 million made available through the first round of funding in July, which resulted in initial allocations of 2,697 schemes that will provide 43, 821 affordable homes.

The government has now invested a total of £1.7 billion in affordable housing from 2015 to 2018, which when added together with private finance, £23 million will go towards affordable housing.

As well as providing more affordable houses, the government want to promote greater use of innovative construction methods, including advanced manufacturing technologies.

Lewis explained that the government has delivered more that 200,000 new affordable houses since 2010.

“Our latest investment is a clear sign of the government’s continued commitment to increasing the overall housing supply and affordable housing in particular. As well as building homes this funding is also a key part of our long-term economic plan, creating construction jobs as we deliver a further 165,000 new affordable homes from 2015.

“The fund will be managed through an open-ended bidding process allowing housing associations to apply for funding at any time rather than by a fixed deadline. This will enable them to bring forward schemes for delivery during the 2015 to 2018 period which will include specialist, supported or rural housing, which can often require a longer lead time.”

Image courtesy of the Department for Local Government

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