England Launches £39 Billion Programme for Affordable Housing Development

England has launched the first phase of the £39 billion Social and Affordable Homes Programme, which is set to run for ten years. This funding initiative is designed to support new affordable housing projects, with the first round alone expecting over 70,000 homes. The money will be distributed among 33 strategic partners, including housing associations and councils. The plan stipulates that approximately 60% of these new homes will be offered at Social Rent.

The programme signals a major, long-term government commitment to increasing housing supply and addressing affordability issues across England. The initiative provides councils with a pathway to partner with Homes England to secure long-term funding for development projects. Furthermore, the government plans to restrict the sale of newly constructed social homes under the Right to Buy scheme for their first 35 years.