A slash of more than 50% of the social housing budget will severely hamper the industry's ability to build new homes and reduce the 1.8 million households on waiting lists. But perhaps more significantly, it’s new measures that will allow housing associations to set rents – up to 80% of the market rate – and plans to introduce flexible ‘fixed-term’ tenures that has left the industry wondering what the role of social housing is under the Coalition Government. The new ‘affordable rent’ scheme, says housing minister Grant Shapps, will stump up around 155,000 homes over the next four years, with HAs using the subsidy from increased rents to build new homes. The rest, he adds, will be built via the remaining £4.5bn social housing budget, slashed from £8.4bn. The £2bn allocation to build more social homes, he anticipates, will provide around 60,000 extra homes. In addition to the £4.5bn package, there is also a £2bn fund for the continuation of Decent Homes work, handing ALMOs a boost in the wake of many councils considering moves to take their housing services back in house. Read more of what Grant Shapps has to say on 24dash.
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