Social Rented Housing: Finance

Ministry of Housing, Communities and Local Government written question – answered on 19th September 2018.

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Photo of Lord Hylton Lord Hylton Crossbench

To ask Her Majesty's Government how much of the £2 billion which the Prime Minister announced in October 2017 to be allocated for housing at social rents has so far been spent; and over what period they expect that the remainder will be used.

Photo of Lord Bourne of Aberystwyth Lord Bourne of Aberystwyth The Parliamentary Under-Secretary of State for Wales, Parliamentary Under-Secretary (Housing, Communities and Local Government)

In October 2017, the Prime Minister announced an additional £2 billion funding for affordable housing, increasing the Affordable Homes Programme budget to over £9 billion to deliver a wide range of affordable housing, including social rent homes.

The £2 billion, together with £1.4 billion of funding announced in Autumn 2016 but not previously allocated, was split equally between the Greater London Authority and Homes England, with each receiving £1.67 billion. Homes England published the prospectus and invited bids from housing associations and local authorities on 26 June 2018, with all social rent funding being spent by March 2022.

At least 12,500 social rent homes will be delivered in high cost areas in a move to support families struggling to pay their rent.

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