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Extension of Affordable Homes Project from 2015 to 2018
Increasing the amount of affordable housing in the UK is of prime importance for the current government. The supply of affordable housing has been at a minimum since the global economic downturn, but since 2011 the government has implemented an Affordable Homes policy – aiming to provide a more flexible form of social housing by way of ‘Affordable Rent’.
More information about Affordable Homes and Affordable Rent
The Homes and Communities agency has begun talks with a number of people in the property industry to contribute to a share of £1.7bn for new affordable housing outside London. Over the next three years, between 2015 – 2018, funding will be available on flexible tenancies tailored to individual housing needs.
The government are confident that this injection of funding will assure Britain’s needs for affordable housing are met for 20 years. Housing associations applying will be required to build only the houses that are in most need in that area – usually one or two bed properties for small families with low income.
The programme will ‘support 165,000 jobs in construction, sustain thousands of small businesses and provide homes where future generations can live and raise and raise families of their own,’ according to the Housing Minister Kris Hopkins.