Only £8bn of £51bn government funding going to affordable housing – New Chartered Institute of Housing (CIH) research has found that only £8bn worth of funding is going towards directly building affordable housing – out of £51bn.
Mark Lawrence | 24Housing | 3.3.17
“…The chief executive of the Chartered Institute of Housing, said: “We have seen in recent months what appears to be a genuine commitment from the government to solve our housing crisis and recognition that we need new homes for rent and sale. However we are concerned if the current imbalance in housing funding continues this ambition will simply not be possible.”…
“Of the £8.2 billion directly earmarked for affordable housing:
- £4.3 billion is current Shared Ownership and Affordable Homes Programme (SOAHP)
- £1.4 billion is the additional funding announced in the Autumn Statement
- £1.5 billion is committed funding for the previous affordable homes programme
- £400 million is earmarked for specialist homes for older, disabled and vulnerable people
- £315 million is earmarked for care and support specialised housing fund
Of the remaining £43 billion funding though some may lead to the building of affordable homes through developer contributions, infrastructure investment and bringing forward new sites, the vast majority will stimulate the private market.”
