The Government has set out plans to build around 300,000 new social and affordable homes over the next decade, with at least 60% for social rent.
The £39bn programme is aimed at tackling the housing crisis and reducing the number of families and over 165,000 children living in temporary accommodation.
Deputy Prime Minister Angela Rayner said: “We are seizing this golden opportunity with both hands to transform this country by building the social and affordable homes we need, so we create a brighter future where families aren’t trapped in temporary accommodation and young people are no longer locked out of a secure home.
“With investment and reform, this government is delivering the biggest boost to social and affordable housing in a generation, unleashing a social rent revolution, and embarking on a decade of renewal for social and affordable housing in this country.
“That’s why I am urging everyone in the social housing sector to step forward with us now to make this vision a reality, to work together to turn the tide on the housing crisis together and deliver the homes and living standards people deserve through our Plan for Change.”
The Government has set out a long-term 10-year settlement for social housing rents from April 2026, and new energy efficiency standards for the sector.
A consultation has been published on modernising the decent homes standard, with proposals focused on tenant safety and making homes warm and efficient.
Minimum energy efficiency standards will apply to the social rented sector for the first time.
Minister for Energy Consumers Miatta Fahnbulleh said: “Everyone deserves to live in a warm, secure and affordable home, which is why we are setting out bold plans today to transform housing over the next decade.
“This includes proposals to introduce an energy efficiency standard for social housing for the first time ever, helping tenants benefit from cheaper energy bills and more efficient homes.”
Spending on affordable housing is set to rise to £4bn a year by 2029/30, almost double the previous programme.
Homes England will deliver most of the funding, with up to 30% going to the Greater London Authority.
The Government has also set out changes to Right to Buy and has reduced maximum cash discounts.
The programme sets out five steps: increasing grant funding, rebuilding capacity to borrow and invest, setting up a stable regulatory regime, reinvigorating council housebuilding, and building a renewed partnership with the sector.
Justin Young, chief executive at RICS, said: “The growing housing affordability gap and acute social housing shortages demand action and this significant investment in both areas demonstrates that the Government is taking this matter seriously.
“Housing supply and affordability are not the only important matters. Housing quality is a key concern and modernising the Decent Homes Standard is a forward step in the right direction. We are developing a social housing stock condition survey, which is another part of the puzzle.
“It is pleasing to see the Government commit to social housing that is energy efficient by updating Minimum Energy Efficiency Standards.”
Young added: “Rising energy costs as well as net zero targets call for greater energy efficiency in social housing.
“This should lower bills for some of the most financially vulnerable and reduce carbon emissions.
“The fact that the Government is focusing on several key pillars to improve social housing demonstrates a fully-fledged vision for social housing that is necessary for successful transformation.
“RICS continues to work closely with the Government to ensure that social homes are safe, secure and sustainable.”
