You are viewing 1 of your 1 free articles
Just 44% of government-funded homes for sub-market rent
Only 44% of homes delivered through central government funding programmes in England were for affordable or social rent last year, the lowest figure since current records began.
Statistics released by Homes England today show that in 2017/18, the government funded 17,159 affordable rent homes and 1,409 socially rented properties – a 19.5% decrease on the figure for the year before.
This comprised 44% of the total of 42,652 homes given direct financial funding through Homes England programmes – the lowest percentage in the current run of statistics which date back to 2009/10.
READ MORE
The figures showed a significant boost in affordable homeownership, or shared ownership, starts which reached 9,184 – a 52% rise, and the highest annual figure in the statistics.
The remaining 14,747 housing starts which received government funding were for products to be sold or rented at full market value.
Overall, combined starts of affordable homes fell by 4.2% from 29,130 to 27,905 and completions rose by 13% from 22,885 to 25,841.
Despite this, Dominic Raab, housing minister, said: “It’s good news to see affordable housing starts and completions rising.
“We are ambitious to do much more to build the homes Britain needs, and to make them more affordable for those on low and middle incomes.”
It is understood the minister’s comments refer to overall starts, which include figures from the capital.
Starts of socially rented homes rose to 1,409 from 950 in the previous financial year. This compares to a peak of 28,859 starts of social rented housing in 2009/10, before funding was redirected to higher ‘affordable’ rent products.
There were 17,159 starts of affordable rented homes, which can be let at up to 80% of market rates, a 22.4% decrease on the previous year’s total of 22,113.
Overall completions rose marginally to 33,741 from 31,057 – well down on a peak of 50,764 in 2014/15.
John Healey, shadow housing secretary for Labour, said: “These shocking figures show that the number of government-funded social rented homes being built has fallen by almost 90% since 2010.
“A year since Theresa May admitted that the Conservatives haven’t given enough attention to social housing, it’s clear ministers are still not building the homes the country needs.”
The statistics comprise affordable homes started under the Shared Ownership and Affordable Homes Programme and residual affordable housing programmes from previous years.
The market rent homes are from the government’s Accelerated Land Disposal, Build to Rent and Builders Finance funds, as well as a number of other streams.
They do not include affordable homes programmes run in London by City Hall or homes funded through the Help to Buy (Equity) scheme, both of which are reported separately.
When combined with figures from London, published by the Greater London Authority, they show a total of 40,431 affordable housing starts with 24,367 for affordable and socially rented housing.
This is a rise of 5.9% when compared to the 38,065 started the year before across the entire country.
Starts and completions figures are affected by the timing of government programme deadlines, which can create peaks and troughs.
