Section: Housing Finance

Grant levels need to rise to pump-prime social housing investment

Posted 30.03.20
Chartered Institute of Housing (CIH): Further reading

UK Housing Review 2020 shows grant levels for new social housing in England have fallen dangerously low and will need to rise to boost investment in response to the economic downturn caused by the coronavirus outbreak.

While grants have risen slightly in the last two years, they now cover just 11% of housing association's development costs, leaving the rest to be met by borrowing and surpluses. One-third of new homes are being built without any grant.

The review also shows that only 11% of new homes built in England is at genuinely affordable social rents, compared with nearly 70% in Scotland and over 80 per cent in Wales.

England has lost 181,000 social rented homes since 2012 through Right to Buy and other causes, even taking into account new build.

To meet the backlog of housing need, CIH and a coalition of housing and homelessness organisations has called for a ten-year investment programme of more than £12 billion a year to deliver 145,000 new homes annually, 90,000 of which would be at social rent.

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Budget 2020 - a summary of the key housing-related measures

Posted 11.03.20
GOV.UK: Further reading

The following are the key housing-related proposals in the Budget 2020.

The Budget also confirms the end of the benefits freeze and the continued the rollout of Universal Credit to support the most vulnerable in society, with extra help for parents of sick or premature babies, carers and victims of domestic violence.

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Reporting on March 2020

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