Section: Housing Finance

Chancellor's Spring Statement includes some cheer for housing

Posted 14.03.19
WIREDGOV: Article link

Chancellor Philip Hammond Spring Statement included several announcements that will bring some cheer to the housing sectors.

A key announcement was that through the Affordable Homes Guarantee Scheme, the government will guarantee up to £3 billion of borrowing by housing associations in England to support delivery of around 30,000 affordable homes.

He also advised that there will be £717 million from the £5.5 billion Housing Infrastructure Fund to unlock up to 37,000 homes at sites - including Old Oak Common in London, the Oxford-Cambridge Arc and Cheshire.

Commenting on the Chancellor's Spring statement, Terrie Alafat, Chief Executive of the Chartered Institute of Housing (CIH) said:

"We welcome the Chancellor's £3 billion affordable homes guarantee scheme to support the delivery of 30,000 new homes.

"A previous scheme that allowed the government to underwrite borrowing by housing associations to fund affordable housing delivery worked well.

We need to see the details of the scheme, but the key question is whether the homes being funded are genuinely affordable, especially considering that we need 90,000 new homes per year at the lowest social rent."


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Reporting on March 2019

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