Six private house builders gave up £28m of grant funding
for affordable homes following a boom in the private sales market. Inside Housing Freedom of Information Act
requests show the house builders have rejected almost half of the £60m cash
they were allocated for the 2011 to 2015 affordable homes programme, reducing
their output from 5,200 to 2,609 homes. Among the reasons cited are
difficulties in transferring funding to different schemes, the introduction of
government schemes such as Help to Buy and improved profits from sales. A
housing association chief executive, who declined to be named, said: ‘These
figures show the idea that the private sector can step in and deliver
affordable housing doesn’t stand up, particularly when it becomes more
profitable to build for sale.’ Read more on Inside Housing.
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