Significant adjustment revealed for property renovation, focusing on subsidies for affordable dwellings
The UK government has announced changes to its Affordable Homes Programme, aiming to improve the quality and supply of social housing. These changes, according to Housing Minister Rachel Maclean, will unlock more affordable housing by ensuring the replacement of old homes with new ones.
Under the new rules, housing associations, local authorities, and nonprofit organisations can now apply for financial support under the Affordable Homes Programme for building replacement and new homes in neighbourhood regeneration projects. Homes England, the government's housing and regeneration agency, encourages affordable housing providers and local authorities to talk to them as early as possible for support in developing proposals.
Peter Denton, the chief executive of Homes England, emphasises the readiness of Homes England to use all available tools, capacity, and capability to support delivery. He sees this change as an opportunity to accelerate the regeneration of social housing and level up communities.
The funding can be used as part of wider estate regeneration plans. All schemes funded by the Affordable Homes Programme must start on site by 31 March 2025 and be completed within the current timeframes. The funding decisions for replacement homes will be made on a regular basis until the end of March 2025, subject to the availability of funding.
Maclean plans to continue working with Homes England and developers to deliver this scheme as quickly as possible. She stated that the objective is to build a larger number of high-quality, energy-efficient new affordable homes. The changes are critical in helping regenerate communities, speed up housing delivery, and provide high-quality homes for more families.
Local authorities in the UK are also attempting to convert vacant homes or holiday lets into affordable housing. This move is part of a broader effort to address the housing crisis and provide affordable options for families in need.
Peter Denton supports the announced change, stating that it provides an opportunity to accelerate the regeneration of social housing and level up communities. The change will come into effect immediately, and funding decisions will be made on a regular basis up until the end of March 2025.
The government remains committed to building affordable homes, and this change is a significant step towards achieving that goal. By providing financial support for the replacement and construction of new homes, the Affordable Homes Programme aims to make a real difference in the lives of many families across the UK.
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