Labour is looking to build 1.5 million homes by the end of the current parliament in 2029.
But experts believe that ministers are set to fall short. The Chartered Institute of Housing recently predicted that Labour is projected to miss its 1.5 million homes target by up to 25%.
Meanwhile, a slump in housebuilding in London has seen mayor of London Sadiq Khan and the government agree a two-year reduction in the percentage target of affordable homes required to fast-track planning permission, from 35% to 20%, to kickstart construction.
But Labour’s latest announcement is aiming to turbocharge building elsewhere.
Mayors, working jointly with Homes England, will shape the course of action for new affordable housing money in their regions, setting out plans for the types of homes that get built, sites prioritised for construction and funding.
As part of these plans, housing providers will be required to demonstrate how their bids align with local priorities, accelerating delivery of homes that genuinely meet local needs, ranging from specialist housing for older people to community-led projects.
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The West Midlands will receive £1.7bn in funding with North East and West Yorkshire receiving £1.1bn and £1bn respectively while Liverpool City Region and South Yorkshire will receive £700 million each.
Mayor of Greater Manchester Andy Burnham said: “Having a decent, secure home in a healthy and safe place is one of the foundations of a good life. But too many people in our city region are being held back because of a housing crisis that has gripped the country.
“Today’s announcement is a major step towards changing that: unlocking land, building the right homes in the right places, and giving local areas more of a say in how our communities grow.
“The investment in social and affordable homes is especially important. It means we can get on with the job of delivering 10,000 new, energy efficient homes for social rent by 2030 – homes that people can actually afford and that will stand the test of time. Working with Homes England, we’re determined to make this funding count for every community across Greater Manchester.”
Ministers also outlined a new route to bid into the social and affordable homes programme as well as allowing councils to combine Right to Buy receipts from sales with grant funding from next year.
Big Issue’s reporting into ‘Yo-yo Homes’ has recently revealed how councils are spending millions of pounds buying homes previously sold through the Right to Buy scheme.
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The government is also set to inform councils of their initial offer under the latest round of the Local Authority Housing Fund and provide guidance on how they can apply for funding.
The £950m is intended to increase the supply of good-quality temporary accommodation for homeless families and drive down the use of costly B&Bs.
Councillor Tom Hunt, chair of the Local Government Association’s Inclusive Growth Committee, said: “The country desperately needs more social and affordable housing, so we value the publication of this guidance. Given the key role for councils in delivering these homes, it is crucial that they remain at the heart of delivery, and that mayors work closely with local authorities in their areas to achieve the most from this money.”
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