You are here: Home - News -

Affordable homes grow at fastest rate since 1993

by:
  • 02/12/2015
  • 0
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.”

There are 1 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Handshake across a desk
LMS partners with The Right Mortgage and Protection Network

The Right Mortgage and Protection Network has appointed LMS to join its conveyancing panel, which will provide the network with...

Close