Conservative Group on Cornwall Council welcome £12 billion boost for affordable homes in England

The Conservative Group on Cornwall Council has welcomed the launch by the Housing Secretary today of a £12billion new investment in housing to help the country build back better, including homes for social rent to help the most vulnerable.

Half of the new homes will be being made available for ownership and revamped Shared Ownership scheme to help the next generation onto the property ladder

A consultation has also been launched to make all new homes more accessible for older and disabled people.

In total, the new programme represents the highest single funding commitment to affordable housing in a decade.

The £12.2 billion overall investment in affordable housing was confirmed at Budget, which also includes £700 million on new homes through the 2016 to 2022 programme.

A new £11.5 billion Affordable Homes Programme will be delivered over 5 years from 2021 to 2026, providing up to 180,000 new homes across the country, should economic conditions allow.

The programme will unlock a further £38 billion in public and private investment in affordable housing. New homes will be made available from next year.

Today, the government is announcing that around half of the new homes will be available for affordable home ownership, helping even more people to get a foot on the housing ladder.

In order to support people from all backgrounds, the rest will be made available for discounted rent, including 10% for supported housing – to support those with physical or mental health challenges.

Nearly £7.5 billion will be delivered outside London by Homes England, the government’s housing accelerator. This is over £2 billion more than the amount given under the previous Affordable Homes Programme, underlining the government’s commitment to levelling up the whole country.

Conservative Group Leader, Cllr Linda Taylor said:

“I am delighted to see today’s announcement by the Secretary of State for Communities following his visit to Cornwall last week.”

“This Government is helping hard working families, young people and prospective first time buyers get their feet on the housing ladder in an affordable way, something which has always been a particular concern here in Cornwall.”

“Today’s announcement will make affordable housing easier to build in Cornwall, something which the current Lib Dem/Independent administration that currently runs Cornwall Council has struggled with, despite their lofty ambitions.”

“We are pleased to see the Government come forward with a practical solution, and the Conservative Group on Cornwall Council welcomes this programme which represents the highest single funding commitment to affordable housing in a decade and look forward to seeing Cornwall’s share confirmed.”