Young Foundation responds to MP’s £2bn affordable housing announcement

Date: 19 September 2018

Housing associations to be given £2bn in new funding to help them build low-cost homes, under plans announced by Theresa May today (19 September 2018) at the National Housing Summit.

John Piper, Programme Manager – Innovation, The Young Foundation comments:

“For the first time in years, we have a housing policy aimed at specifically benefitting those on low incomes. The long-term security of this funding could enable housing associations to build developments that are of better quality, community-based and with greater security of tenure than the private rented sector alternative.

“However, the PM’s solution to the housing crisis is primarily based on building and it doesn’t look at the inefficient use of current stock, which is arguably just as big an issue. This is just one area where a solution can be found quickly and is more environmentally friendly than purely building new stock.

“Through our Reimagining Rent programme, we know that there are many innovative initiatives already underway in our communities that are tackling the issues presented by a challenging private rented sector — from social lettings agencies to homeshare schemes and ventures that work to improve specific barriers like credit histories or large deposits. Today’s policy is welcome but we can’t forget that innovation can play a significant role in making the entire private rented sector work better, improving the experiences of tenants now.”

– Ends

For further comment or interview, please contact Kasia Murphy, interim Communications Manager at The Young Foundation on kasia.murphy@youngfoundation.org or by phone on: +44 777 473 6497