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Affordable homes grow at fastest rate since 1993

  • 02/12/2015
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Affordable homes grow at fastest rate since 1993
The number of new affordable homes has achieved its highest annual increase since 1993, with 66,440 being delivered in the last year, official figures show.

According to figures published by the Department for Communities and Local Government (DCLG), over 270,000 affordable homes have been completed since 2010, with 55% more delivered than the previous year.

The number of social and affordable built for rent increased by nearly two-thirds, while the number of affordable homes to buy rose by 41% during the same period.

Last week, the Chancellor announced during his Autumn Statement and Spending Review that investment in housebuilding would double to £8bn, in order to help the government achieve its target of one million new homes by 2020.

The government’s annual house building target is set at 275,000 affordable homes per year, but has so far failed to achieve this.

Housing minister Brandon Lewis (pictured), said the government recognised that there was more work to do in ensuring it reached its target.

“Our housebuilding efforts are paying off and can be seen by this considerable increase in the number of affordable homes built in just one year,” he said.

“This is real progress but there is more to do. That’s why we are going further and increasing our investment in these homes to ensure many more hard-working people can benefit.”

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