Following today’s Spending Review where affordable housing has been allocated £39bn over the next 10 years, Sarah Rowe, Partner and Head of Social Housing at leading law firm Freeths, said:

“What has been announced today is a 50% uplift on the size of the previous programme and for the first time in living memory will provide ten years of certainty. This alongside the rent settlement at CPI+1% for the same period is the long-term reliable subsidy that the sector has been calling for, for a long time.

“The devil as always will be in the detail in terms of grant rates, whether there will be a focus on social rent, where the shortage is acute, or any monies available for S.106 units where the market is in dire straits which is ultimately having a knock-on effect to the overall delivery of housing.

“The hard work begins now. Securing the partnerships needed to support the delivery afforded by the Affordable Homes Programme will be key to this. Partnerships was a key topic at UKReiiF a couple of weeks ago and I am sure will be on the agenda at Housing 2025 at the end of June.”