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Affordable housing update
08 September 2020
Type
Written Ministerial Statement
Department
Ministry of Housing, Communities and Local Government
At a Glance
Issue Summary
The statement discusses the government's investment in affordable homes to address housing needs.
Action Requested
The minister announces £12.2 billion of investment through the new Affordable Homes Programme, set to unlock an additional £38 billion in public and private funding over five years, delivering up to 180,000 new homes across England. This includes reforms to Shared Ownership, making it easier for individuals to buy their first home.
Key Facts
- The government is committing £12.2 billion to affordable housing.
- Homes England will publish the prospectus for the Affordable Homes Programme this week.
- Up to 180,000 new homes are expected to be delivered from next year (2021-2026).
- The programme includes £9.5 billion of new funding and £2 billion for Long-Term Strategic Partnerships with housing associations.
- New Shared Ownership models will have a minimum initial ownership stake reduced to 10% and staircase in smaller instalments of as little as 1%.
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