Industry reacts to Spending Review

The industry has welcomed the government’s £39 billion commitment to affordable and social housing over the next two years, as announced in its Spending Review. But some members of the sector have pointed out what else is needed to support the government’s 1.5 million homes ambition.

Neil Jefferson, ceo of the Home Builders Federation, said: “Putting housing associations on a firmer footing should, over time, deliver more new homes and help address the long-term crisis in the market for subsidised homes delivered through planning agreements.”

James Dickens, md of Wavensmere Homes, also expressed his hope that the new Affordable Homes Programme would provide “a much-needed end to the inertia in the affordable housing sector, which is down to so few investments having been announced by Homes England over the past 12 months”. Under the Spending Review, the government will release an additional £10 billion for financial investments including through Homes England to “crowd in” private investment.

Stephen Teagle, ceo of partnerships and regeneration at Vistry Group, praised the government for recognising that “investing in housebuilding is critical to delivering economic growth and is delivering on its promise to make a generational change in the delivery of affordable …