You are here: Home - Uncategorized -

Affordable house building through Homes England lowest since 2017/18

Construction of affordable homes delivered through Homes England programmes fell to 9,255 properties between April and September, the lowest number built over a six month period since 2017/18.

Meanwhile, the number of homes priced at market value under construction using Homes England grant funding rose from 2,685 to 3,974 year-on-year.

Figures released by Homes England, a public body that receives funding from the government to deliver affordable housing, show a seven per cent year-on-year decline between April and September in its affordable homes delivery.

Not since the six months to September 17/18 when construction of 6,968 affordable homes began, have rates of housing starts been so low.

According to the public body, affordable homes delivery fell because developers could no longer bid for funding through its shared ownership programme. A new affordable homes programme was launched in April.

The aim of the new scheme is to provide over £7.39bn of grant funding through Homes England from April 2021 to help pay for the construction of up to 130,000 new homes outside of London by March 2026.

Overall, homes delivered by Homes England partners reached 13,229 between April and September, up from 12,652 the year before, an increase of five per cent. However, compared to the same period in 2019, housing starts were down by 27 per cent.

Homes England programmes are funded by the government to allow housing associations, builders, community groups and local authorities to build affordable homes.

Schemes include affordable homes to buy and rent built by local authorities and housing associations, shared ownership homes and some housing sold at open market value.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week