As part of the drive to build the homes communities need, the Secretary of State for Communities has announced a multi-billion pound boost to social housing across England.
Around 23,000 new affordable homes will be delivered through a £1.67 billion government investment deal. This will include at least 12,500 social rent homes in high cost areas in a move to support families struggling to pay their rent.
The Communities Secretary heralded a new generation of council housing by inviting local authorities to bid for a share of £1 billion extra borrowing to build much-needed homes. This £1 billion borrowing cap raise will be split equally between London and the rest of England.
The Rt. Hon James Brokenshire MP, Secretary of State for Communities, states:
The government has ambitious plans to fix the broken housing market and build the homes our communities need.
Today’s announcement is a further milestone. It will secure the delivery of an additional 23,000 much-needed affordable homes as well as paving the way for a new generation of council houses.
The majority of these new homes will be in high cost areas helping to ease the burden of rent on hard working families and delivering stronger communities.