New Funding for Homes Promised by PM

Posted on: 20 September

New Funding for Homes Promised by PM

Theresa May has announced £2bn to build new homes in England, in an attempt to remove the “stigma” of social housing.

At the National Housing Federation Summit 2018, the PM has announced £2bn to build new homes in England, in an attempt to remove the “stigma” of social housing. This comes as welcome news to Housing Associations who have been at the forefront of long-term affordable housing solutions and who are currently up against a huge jump in land prices.

Speaking at the National Housing Federation summit, The Prime Minister said,

“We should never see social housing as something that need simply be ‘good enough’, nor think that the people who live in it should be grateful for their safety net and expect no better,” she said.

“I want to see social housing that is so good people are proud to call it their home.”

United Communities welcomes this statement from the PM as it is at the core of our ‘More Than just a Roof’ approach. We want our residents to be proud of their homes and for new houses to enable communities to grow and to flourish.

Further, the news of new funding is especially welcome given the widespread challenge of finding affordable land. New research shows that while landowners in England made more than £13 billion in profit alone over 2016/17, housing associations are being priced out of the market.

Oona Goldsworthy, CEO United Communities, was interviewed on the BBC News at 10 earlier this week to discuss this pressing issue. She shared our own experiences of the difficulty of securing land as a leading Housing Association in the South West.

The National Housing Federation said that if more of the increase in land price was captured, the government could use it to fund as many as 100,000 affordable homes each year. Our thanks to BBC home editor Mark Easton for covering the story.

For further reading on the above, see:

People should be proud of their council house – Theresa May https://www.bbc.co.uk/news/uk-politics-45569453

Government must overhaul land laws to stop developers pocketing increases in value, NHF urges

Housing associations to get £2bn investment over next ten years

In full: Theresa May’s speech to the National Housing Summit

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