Government announces five-year rent settlement and confirms £500m top up for Affordable Housing Programme
Tuesday 29th of October 2024
Government announces five-year rent settlement and confirms £500m top-up for current Affordable Homes Programme.
But sector will have to wait until the Spring for details of affordable housing funding post-2026.
The government has announced plans for a new five-year rent settlement in social housing along with a £500m top-up for the 2021-26 Affordable Homes Programme.
Ahead of the Labour government’s first Budget on Wednesday, the Treasury over the weekend announced more details of its plan to “unlock housing”.
It said the government will consult on a new five-year social housing rent settlement, with the intention to increase rents in line with the consumer price index measure of inflation plus 1%, as is the case under the existing settlement that expires in April 2026.