A £39 billion programme to deliver 70,000 social and affordable homes across England has been announced, with funding earmarked for a series of regional projects.
Regional allocations include a £6 billion package for London, and additional funding granted to Greater Manchester, the West Midlands and West Yorkshire to support new homes intended to increase the supply of affordable housing in those areas.
The initiative is focused on creating properties classified as social and affordable, aimed at addressing shortages in the lower-cost housing sector. The programme’s funds are intended to finance the construction of new homes rather than retrofit or maintenance work.
Officials involved in the roll-out say the money will enable local construction programmes, though detailed project lists, delivery timetables and specific site locations have not been published alongside the headline allocations.
Stakeholders in the housing sector, including local authorities and housing providers, are expected to be involved in bringing the projects forward; the funding represents a significant targeted investment in new build social and affordable housing across several of England’s largest urban regions.
Further information on how the funds will be distributed within each region and the schedule for starting work on individual developments is expected to follow as local plans are finalised and approved by the relevant authorities.