Timber Development UK (TDUK), has welcomed the announcement of nearly £10bn of funding being allocated to build over 70,000 social and affordable homes across England.
Announced on August 25, it represents the first wave of funding under the Social and Affordable Homes Programme (SAHP) – a 10-year programme which will spend £39bn in total.
“This news comes as a welcome relief for the market,” said David Hopkins, CEO of TDUK.
“The housing sector, and the supply chains that feed it, cannot wait any longer for investment to flow. It is high time the government allocated the capital – to let the industry get on with doing what it does best.”
“The delay in encouraging demand has had catastrophic effects across the sector. Now is the time to focus on delivery of quality homes fit for the future. It’s also great to hear that the government says it wants ‘skills development in Modern Methods of Construction’ in this announcement. That’s one of many ways in which timber is best placed to deliver these homes.”
The Government has announced the 33 delivery partners across the country. Partners include councils, housing associations, housebuilders and other providers: names such as Clarion Housing Association, Vistry, Orbit Group, Magna Housing and Sanctuary Housing Association.
All the funding in this wave is outside London, in areas such as Greater Manchester, the West Midlands, the North East, West Yorkshire, the Liverpool City Region and South Yorkshire. And a further £16bn billion of the SAHP funding remains to be allocated outside London over the ten-year period.
The government said it will prioritise social rent and council housebuilding going forward, in what it described as “the largest expansion of council housing in decades”.
The Government will invest a further £46m over the next three years to boost councils’ skills, expertise and capacity and aid them in housebuilding – a programme they are calling ‘Capacity To Build’. It is also looking to “raise the cap on funding for acquisitions so that councils can buy more homes”.
To see the Government’s announcement in full visit HERE
