£2 billion new investment to support biggest boost in social and affordable housebuilding in a generation.
The government has announced a £20 million investment to support the delivery of community-led housing.
An extra £2 billion injection of new grant funding to build up to 18,000 new social and affordable homes has also been confirmed today, helping to deliver the biggest boost to social and affordable housing in a generation while making sure those homes go to the people who need them most.
Colleen Babcock, property expert at Rightmove comments,
“We welcome the government’s focus and investment to help build more affordable homes. This first step towards more affordable housing is very much needed to help those struggling to save for a deposit and buy a home.
“Our data shows that a typical first-time buyer in Britain now faces average monthly mortgage payments of £940, a 59% increase compared with £590 per month five years ago. Over that same period rents have increased by 40% across Great Britain.
“We’re keen to learn more about how the government plans to use this first stage of their initiative to support first-time buyers, or any further incentives that could help more first-time buyers get their first step on the housing ladder.”
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