At the Conservative Party conference, Theresa May announced details of the Government’s major new programme of investment in social housing.
9 October 2017
Additional £2bn investment in affordable housing
There will be an additional £2bn investment in affordable housing, which will be available for housing associations and local authorities to bid for. There will be the flexibility to use this to build homes for social rent where it is needed. This will make a real difference to those let down by a broken housing market and enable us to provide genuinely affordable homes for those on the lowest incomes.
Certainty over rents
The Prime Minister also used the speech to confirm certainty over rent levels, which was later confirmed to be CPI+1 for five years from 2020. This demonstrates the positive relationship we now have with the Government, their trust in us to deliver high quality homes, and a recognition that we reinvest money in our communities.
This rent settlement is for five years from 2020 so we will continue to talk to members, the Government and other stakeholders about what the rent policy should look like beyond this.
Access to land
There was also reference in the speech to ensuring councils release more land for housing. This should give housing associations the certainty and flexibility to play a significant role in ending the housing crisis and provide great homes for existing and new customers alike.