Record high jump in affordable homes
The number of new affordable homes has jumped by its highest level since 1993, with 66,440 being delivered in the last year.
According to figures published by the Department for Communities and Local Government (DCLG), over 270,000 affordable homes have been completed since 2010, with 55% more delivered than the previous year.
The number of social and affordable homes built for rent increased by nearly two-thirds, while the number of affordable homes to buy rose by 41% during the same period.
Last week, the Chancellor announced during his Autumn Statement and Spending Review that investment in housebuilding would double. This pledge forms part of the Government’s huge push to encourage affordable homeownership and help more aspiring buyers onto the property ladder.
Housing minister Brandon Lewis, said the Government recognised that there was more work to do.
“Our housebuilding efforts are paying off and can be seen by this considerable increase in the number of affordable homes built in just one year,” he said.
“This is real progress but there is more to do. That’s why we are going further and increasing our investment in these homes to ensure many more hard-working people can benefit.”