Phil Brown

£2bn pledge for social and affordable housing. Will it make a difference?

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Today While giving a speech at the national housing federation, the prime minister pledged £2bn to boost social and affordable housing. 

 

After running through a list of achievements the government has achieved within the housing market in recent times, including the affordable homes program, new social housing green paper program and the tenant's fees bill. 

Theresa May moving swiftly onto outlining plans for the pledged £2billion, stating:  “Under the scheme, associations will be able to apply for funding stretching as far ahead as 2028/29. In the locations where they are needed most.”

 

The main question for property investors and the general public is, Will this actually make a difference?

 

The government has been pledging money for improving the housing supply for over 14 years and we are still behind with an ever increasing population.

 

Do you think this will have an impact on the housing market from investors, developers and tenants point of view? 

Let us know in the comments below. 

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I think the only 'new' thing here is the amount she's pledged. Every prime minister has promised or gone as far as built new homes - but are they affordable? Not in London or in the south east as the gap between salaries and property prices is too large to bridge. Also, the government has continuously missed the quota of new homes, so initiatives like this this could be a drop in the ocean really. 

 

If they're homes for social housing - great. But they'll only go to those who are most in need, and unfortunately that isn't a fixed number - its growing (rich getting richer, and poor getting poorer) so there will always be a demand for homes, albeit not as strong. 

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21 minutes ago, nbatch said:

I think the only 'new' thing here is the amount she's pledged. Every prime minister has promised or gone as far as built new homes - but are they affordable? Not in London or in the south east as the gap between salaries and property prices is too large to bridge. Also, the government has continuously missed the quota of new homes, so initiatives like this this could be a drop in the ocean really. 

 

If they're homes for social housing - great. But they'll only go to those who are most in need, and unfortunately that isn't a fixed number - its growing (rich getting richer, and poor getting poorer) so there will always be a demand for homes, albeit not as strong. 

 

Great point! I totally agree that the government has been under its quota for new housing for many years. But as you say. It'll only really be drop in the ocean. 

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