70,000 social and affordable homes to be built across England as part of £39bn plan
Summary
The UK government announced plans to build 70,000 new social and affordable homes across England over the next 10 years as part of a £39 billion program to address the housing shortage. Funding will go to several regions including London, Greater Manchester, and the West Midlands, with homes mainly for social rent, which costs about half of market rent.Key Facts
- The plan aims to build 70,000 new social and affordable homes in England over 10 years.
- This is part of a larger goal to build 300,000 homes nationwide under a £39 billion program.
- Regions receiving funding include Greater Manchester, West Midlands, West Yorkshire, South Yorkshire, North East England, Liverpool, and London.
- About 60% of the new homes will be for social rent, which is cheaper and has strict eligibility rules.
- London will get the largest share of funding, though the number of homes planned there was not specified.
- Over 1.3 million households are currently on waiting lists for social housing in England.
- Some homes will be built by local councils, with extra funding to support council housebuilding.
- Social housing construction is still far below levels seen in the 1950s, when councils built nearly 200,000 homes annually.
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