Affordable Housing: Finance

Department for Levelling Up, Housing and Communities written question – answered on 26th April 2022.

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Photo of Justin Madders Justin Madders Shadow Minister (Future of Work), Shadow Minister (Business and Industrial Strategy)

To ask the Secretary of State for Levelling Up, Housing and Communities, whether he has made an assessment of the reasons behind trends in the level of overall affordable housing support.

Photo of Stuart Andrew Stuart Andrew Assistant Whip, Minister of State (Minister for Housing)

The Government is taking action on a number of fronts to help make housing more affordable. We are investing over £12 billion in new affordable housing over five years - the largest investment in affordable housing in a decade. This includes the £11.5 billion Affordable Homes Programme for 2021-26, which will provide up to 180,000 new homes across the country, should economic conditions allow. This will include around 32,000 Social Rent homes. Since 2010, over 574,100 new affordable homes have been delivered - including over 403,400 affordable homes for rent. We continue to provide support through the welfare system to help households meet the cost of housing in both the private and social rented sectors. We are helping to bring home ownership within reach of many more people through Help to Buy and Shared Ownership. Measures to increase overall housing supply will also help to make housing more affordable. The Government will continue working towards our ambition of delivering 300,000 new homes per year in England to create a more sustainable and affordable housing market.

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