Owl says note that the “affordable” hoysing will still be 80% of market value … making these homes still unaffordable for those on low incomes.
Chancellor Philip Hammond has today committed £3billion in extra borrowing to deliver 30,000 new affordable homes in England.
In the Spring Statement, the Chancellor announced that the Government will guarantee the extra borrowing by housing associations to support the delivery of the homes, but did not supply a timetable for delivery.
The Chancellor also announced that £717million from the £5.5billion Housing Infrastructure Fund will be used to help ‘unlock’ up to 37,000 homes at sites including Old Oak Common in London, the Oxford-Cambridge Arc and Cheshire. …”
BUT IN THE SAME ARTICLE:
“In November This is Money revealed that local councils have fallen over six years behind their own house building targets.
Councils’ own figures revealed that development across the UK is moving at such a glacial pace that 316 sites will have fallen short of targets by 889,803 homes within the next eight years. …”