Social housing announcement ‘what industry has been waiting for’

Yesterday's announcement that the government will invest £2bn into affordable housing is “What we’ve been waiting for,” according to our Director Piers Beeton, who believes this is a crucial step forwards in delivering new homes under the Labour government.

He said: “The affordable housing sector has been a real challenge over the last 12 to 18 months in terms of bringing sites forward for development, with housing associations really under pressure for a number of reasons including interest rates, refurbishment of existing stock and the cladding issues. In some cases, it’s been very difficult to bring housing associations onto sites, as they haven’t had the resource available to purchase Section 106 stock which massively impacts on deliverability.

“We have been waiting for an announcement like this one, which promises a cash injection into the sector and hopefully there is more to come after the spending review. This is a hugely positive step forwards for the affordable housing market and one which should help bring providers back onto sites and encourage delivery.”

For more information about the government announcement visit: £2 billion new investment to support biggest boost in social and affordable housebuilding in a generation - GOV.UK