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KHDG welcomes £2bn government investment to deliver more affordable housing on sites across England
The Kent Housing and Development Group has welcomed the announcement of £2bn investment of new grant funding by the Chancellor Rachel Reeves to deliver much needed new social and affordable housing across the country, including Kent and Medway.
In a statement, Nick Fenton, Chairman Kent Housing and Developers Group, said: “The colleagues I have been meeting with through the series of DHA and South East Housing and Development Group (SE HDG) Affordable Housing Roundtables will welcome this additional £2 billion investment in affordable housing, it provides a timely and important reassurance of the government’s ongoing commitment to delivering genuinely affordable social homes for families in need.
“We have been making the case to the Ministry of Housing, Communities and Local Government and Homes England that an investment of this kind plays a critical role in avoiding a ‘cliff edge’ between the current and new programmes, this can help generate fresh momentum in housing delivery, ensuring continuity and stability for providers.”
The announcement by the Chancellor on Tuesday (25/3) will deliver up to 18,000 new social and affordable homes with a focus on sites that will deliver in this Parliament, helping to support broader ambition to build 1.5m new homes before the next general election.
The £2billion investment boost comes as a down payment from the Treasury ahead of more long-term investment in social and affordable housing planned later this year, which will provide additional funding for 2026-27 and well as for future years.
It is hoped the funding will result in the start of construction of thousands of new affordable homes by March 2027. The government is encouraging providers to come forwards as soon as possible with projects and bids to ramp up the delivery of new housing supply across England, including Kent and Medway.
Kent Housing and Development Group is a partnership bringing together comprising land and property owners, developers of commercial spaces as well as residential and mixed-use schemes across the county. They work alongside public sector partners including Kent County Council, Homes England and the Environment Agency to remove barriers to growth and deliver future economic prosperity to Kent.
The full announcement by the Chancellor of the Exchequer on the £2bn funding boost can be read here:
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