News > John Healey announces further £500 million boost for affordable homes

John Healey announces further £500 million boost for affordable homes

Housing Minister John Healey announced a boost to housebuilding in England, by confirming nearly £500 million funding to build around 8,000 affordable homes across the country. This takes total Government funding for housebuilding to £3.5 billion since June.

Every region of the country is benefiting from this extra cash to build much-needed affordable homes for sale and rent. Over 3,000 of these new homes are expected to be available through the government's HomeBuy schemes, offering first time buyers a helping hand onto the property ladder. And nearly 5,000 homes will be available for affordable rent through housing associations.

Schemes receiving this additional funding include:

• the Washington Arms development in Dudley - £1.9 million to transform a site dominated by a derelict pub into 42 new homes for affordable rent and sale;  
  Library Street, London - Part of the regeneration of Elephant and Castle in the Capital, £3million is being allocated towards 21 new homes for rent including seven three-bedroom flats and six four-bedroom houses
• supported housing in Richmond, Yorkshire - £1.7million for 31 new homes for single homeless people, offering particular help for ex-service personnel.
  Since June, and despite the recession, John Healey has approved £3.5billion Government funding for nearly 60,000 new homes. As well as going to housing associations, this cash has been used to help developers to kickstart their stalled projects and get housebuilding back on track, and to fund the largest council house-building programme for two decades.

The Minister has made clear his determination to make the most of every taxpayer's pound invested in housing, by requiring housing associations, developers and councils benefiting from these record levels of Government cash to provide apprenticeship opportunities. This will help to secure a strong future for the housebuilding industry and supporting the next generation of construction workers by creating thousands of new apprenticeships.

John Healey said:

"We have used the power of public investment to ensure that even during the downturn we continued to build the homes this country needs. When levels of private housebuilding plummeted, we stepped in with record levels of funding to get Britain building again.

"So today, I can confirm I have given the go-ahead to nearly £500million extra funding for Housing Associations to build 8,000 new homes. But I want to make the most of every taxpayer's pound, which is why I am requiring those benefiting from this extra cash to offer local job and apprenticeship opportunities.

"Today's investment in more affordable housing takes total Government help for housebuilding to £3.5billion since June. As the economy continues its recovery, I am determined that this support continues for the industry, for first-time buyers and for families."