Shropshire housing group welcomes £39 billion government investment in social housing
News that the Government will inject £39 billion into new affordable homes over the next decade has been welcomed by the chief executive of Shropshire’s biggest housing association.
The announcement formed part of a spending review unveiled in Parliament by chancellor Rachel Reeves, in a move the Government hopes will help it achieve its target of 1.5 million new homes in this parliament.
Wayne Gethings, chief executive of Housing Plus Group, said the promised cash injection "turned the page on decades of under-funding for social and affordable housing."
The group, part of which was formerly known as Wrekin Housing Trust in Shropshire, is one of the largest social and affordable homes providers in the West Midlands, managing 33,000 homes across Shropshire, Telford and Staffordshire.
“A new Affordable Homes Programme delivering £39 billion of investment over 10 years will enable social landlords like Housing Plus Group to get on and build at the scale the country so desperately needs," he said.
“Equally important is the introduction of a 10-year rent settlement, giving us the clarity we need to plan effectively for the future. This will allow us to invest confidently in our existing homes and drive forward the delivery of new, high-quality affordable housing, while providing certainty for our customers.”
Announcing a £39 billion 10-year affordable homes programme, Chancellor Rachel Reeves said it was delivering the "biggest boost to investment in social and affordable housing in a generation."
The government says the spending plan amounts to an average of £3.9bn a year, which it says will be "significantly higher than what the previous government spent on affordable housing, which was an average of £2.3bn per year".
Mr Gethings added: “We stand ready to deliver – with the ambition and capacity to build 1,000 high-quality, affordable homes each year, through both new sites and regeneration schemes. This funding gives us the confidence to accelerate our plans and help tackle the housing crisis head-on.
“We have worked closely with the National Housing Federation and other housing associations in calling for long-term investment through the Affordable Homes Programme and a sustainable rent framework, and it is hugely encouraging that the government is listening.
“These measures lay strong foundations for progress, and we look forward to playing our part in building the safe, secure and affordable homes our communities deserve.
“We know that the demand for affordable, sustainable homes has never been greater. With the right support and partnerships in place, we can unlock sites, invest in communities, and deliver at scale – creating places people are proud to call home.”
