The Advantage team works with a number of social and affordable housing providers, issuing structural warranties for their projects.
This week we’ve been reading a new report by The Affordable Housing Commission: ‘Making housing affordable after Covid-19’, which puts social and affordable housing at the heart of the recovery.
The report calls on the government to increase investment in much needed genuinely affordable homes, with funding targeted at social rented properties for low income households.
The Commission states that the timing is right for a sustained counter-cyclical social housing programme, which supports local jobs and growth and offers value for money. With government backing, a boosted social housing sector can also help improve housing conditions, reduce carbon emissions and combat poverty.
They are not alone in calling for an ambitious post-Covid-19 social house building programme. Last month, we wrote that local councils also believe that social house building could play a key role in the nation’s economic recovery.
The Commission proposes a 12 point social housing-led recovery plan, which includes measures to: return housing grants to the previous levels which helped rescue the housing market after the global financial crisis, a new ‘Housing Conversion Fund’ for social landlords to buy unsold homes and other properties, reforms to the Right to Buy and Permitted Development Rights, caps on rent rises, strengthening the safety net for renters, and extending Help to Buy to existing properties for those on the margins of home ownership.
They say that at a time when housing need is at its greatest and when lending restrictions are being tightened for potential first-time buyers, social housing must be at the core of the government’s recovery plans.
The Commission warns that without urgent action the gap between housing need and the availability of low-cost housing will widen over the coming years, resulting in more households being pushed into the Private Rented Sector. The Commission forecasts that without a step change in supply, the affordable housing gap could widen by 500,000 over the next five years.
Lord Richard Best, Chair of the Affordable Housing Commission, says:
“A recovery plan, with a focus on social rented and affordable housing, will encourage jobs and growth and rebalance the housing system so it is fit for purpose post Covid-19. As people face reduced incomes and potential unemployment the need for truly affordable social rented homes becomes even greater. With a weaker housing market and millions of renters under housing stress this is the moment for the social housing sector to step in, maintain the impetus for the construction industry and pick up the opportunities for growth. With decisive action from government now, there could be a big step forward in easing the affordable housing crisis.”
Whether you’re a social and affordable housing specialist or a commercial developer or you’re planning to build or convert your dream home, Advantage can provide structural warranties for projects ranging from multi-million pound developments to individual self-builds. If you would like more information, please call: 0845 900 3969, email: email@example.com or pay a visit to our homepage: https://ahci.co.uk/