CIH welcomes expected £1billion boost for social and affordable housing

The Chartered Institute of Housing (CIH) has welcomed reports that the government will provide more than £1billion in additional funding for social and affordable housing in the Autumn Budget, alongside further support for councils and regional leaders to deliver new homes in England.

According to a Treasury announcement over the weekend, the government will also help more councils borrow for housebuilding by extending preferential borrowing rates.

Since the 1980s, there have been over two million council homes sold through Right to Buy, with successive governments failing to replace them. The Prime Minister has been clear on his commitment to restoring the public housing stock as part of the biggest council house building programme since the post-war period, including by exempting new builds from Right to Buy for 35 years.

Rachael Williamson, Director of Policy, Communications and External Affairs at CIH, said: “The government’s reported decision to provide more than £1billion in additional funding for social and affordable housing is a significant and timely investment in tackling housing need and supporting communities across the country.

"This commitment recognises the vital role that genuinely affordable homes play in reducing homelessness, addressing waiting lists and supporting economic growth. To maximise its impact, the additional funding should be made available from 2027/28, enabling housing providers to accelerate delivery, maintain development pipelines and ensure new affordable homes reach communities sooner.

“Equally important is the proposed package of further powers, funding flexibility and borrowing support for mayors and regional leaders. Delivering the homes the country needs will require both investment and local leadership, and devolving greater control over housing and regeneration can help ensure decisions are shaped by those who best understand the needs of their communities.

“We look forward to seeing the full detail in the Autumn Budget and working with government, mayors and housing providers to ensure this investment translates into a sustained increase in the supply of social and affordable homes and supports the delivery of thriving, well-connected communities.”