CIH welcomes the Chancellor’s announcement of an additional £2 billion for affordable homes

CIH has welcomed the government’s announcement of £2 billion new funding to increase the supply of social and affordable homes. The investment boost has been marked as a down payment from the Treasury ahead of more long term investment in social and affordable housing planned later this year, as part of the government’s Plan for Change mission to build 1.5 million homes. 

Gavin Smart, CIH chief executive welcomed the announcement commenting: 

“The announcement of an additional £2 billion for the Affordable Homes Programme (AHP) ahead of the June Spending Review is very welcome and will help sustain momentum before the current AHP comes to an end. 

“The UK faces a significant housing crisis, with rising homelessness, overcrowding, and a lack of affordable rental homes. This investment signals recognition from government that bold action is needed to boost supply and ensure that everyone has access to a decent, safe, and secure home. It is vital that it forms part of a longer-term, strategic approach to delivering the scale of truly affordable social rented housing needed. This investment will provide real value for money. Building new homes creates new economic activity, boosting growth, and access to decent affordable homes drives savings in health, benefits and homelessness spending.

“We are very pleased that the government sees this new funding as a “down payment” ahead of more long term investment later in the year. We look forward to further details on the upcoming long-term investment strategy due in June and will continue to advocate for a sustained commitment to social and affordable housing as a national priority.”