Significant shift unveiled for property revitalization with funding for budget-friendly houses
The affordable housing sector in the United Kingdom is set for a significant shift, following an agreement between the sector and the Department for Levelling Up, Housing and Communities. This change aims to provide a more balanced approach to investment in existing homes and the construction of new ones.
The announcement, made by Homes England, the government's housing delivery agency, will allow all schemes to commence construction by 31 March 2025 and be completed within the Affordable Homes Programme's current timeframes. This change will come into effect immediately, and funding decisions will be made on a regular basis up until the end of March 2025, subject to the availability of funding.
Peter Denton, the chief executive of Homes England, commented on the announcement, expressing the agency's readiness to use all of the tools, capacity, and capability they have available to support the delivery of new affordable housing schemes. Homes England encourages all affordable housing providers and local authorities to come and talk to them as early as possible if they need support to develop their proposals.
Funding for the affordable housing sector will be available until the end of March 2025. During this period, Homes England will work quickly to make the funding available for partners. It is important to note that all schemes must adhere to the Affordable Homes Programme's current timeframes.
The Minister responsible for the Housing Ministry at the time of the announced change was Angela Rayner. However, she stepped down as Housing Minister and Deputy Prime Minister on September 13, 2025.
This change is expected to bring about a more balanced approach to investment in the affordable housing sector, providing a much-needed boost to the construction of new homes and the maintenance of existing ones.
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