A new £2 billion investment for social and affordable housing

Aiding hard working families in getting secure, safe homes and kick-starting economic growth are big parts of the Government's agenda. The Chancellor and Deputy Prime Minister recently announced plans for as many as 18,000 new affordable and social homes. A £2 billion injection of investment will deliver them. We want to have a closer look at the plan here. Then, if you want to talk about high end residential architecture in London, you can speak to us.

The announcement of the funding boost marks a milestone in the Government's commitment to construct 1.5 million new houses. It will allow them to deliver their Plan for Change. Plus, it also follows their proposal to inspire the next generation of British engineers, chippies, and brickies. The hope is it will get more young people into these careers and help to resolve the skill shortage.

A long term investment

This £2 billion is a down payment from the Treasury. It's part of a long term investment into affordable and social housing planned later in 2025. They will then offer extra funding for 2026-27 and future years. Everything here is part of the Government's plan for dealing with the housing crisis.

The goal is to ensure thousands of new homes will begin construction by March 2027. As a result, they will be complete by the end of the current Parliament in 2029.

The government is asking for providers to come forward with bids and projects as soon as possible. This is to ramp up the delivery of new housing supply. What it will do is make the dream of home ownership a reality for individuals all over the UK. If you are thinking about high end residential architecture in London, we'd love to help.

Something else this investment will do is unlock the opportunity and development of a number of sites. There are several ready and waiting for spades in the ground, including in areas like Liverpool and Manchester.

Comments

The announcement of the funding boost was accompanied by several statements, including from the Government as well as stakeholders from construction, housing, and finance.

Angela Rayner, Deputy Prime Minister, said the investment will help them to "build thousands more affordable homes to buy and rent". Therefore, it will allow more people to get on the property ladder and into good quality homes. It will be the "biggest increase in social and affordable housing in a generation".

The Chief Executive of the National Housing Federation, Kate Henderson, said the £2 billion top up is "hugely welcome" because it shows the Government is committed to delivering more genuinely affordable homes. She said housing associations are ready to work with them "to deliver a generation of new social homes".

Ask us for help with residential architecture in London

At Coffey Architects, we're driven by craft, collaboration, and curiosity. Our creative team have a passion for design and how we live. As a result, we are able to design wonderful homes that make a positive impression and benefit the residents.

If you want to create the highest quality residential architecture in London, we'd love to be involved. So, feel free to speak to us about any projects.