The Chancellor’s Spending Review announcement saw further clarity provided on the Social and Affordable Homes Programme, with £39 billion of investment confirmed over ten years.
Stephen Sorrell, Social Partnership Director, reflected on the announcement in Place North and Caring Times.
Stephen Sorrell MBE, social partnership director at Preferred Homes:
“The sector has been standing by for clarity about the next phase of the Affordable Homes Programme since this government came into office. The significant new money announced today and an extension of the programme to 10 years will be transformative for registered providers looking to bring forward long-term pipelines – as well as for attracting further investment from institutional pension funds and other third parties into affordable housing.
“Further detail is still needed on changes that will unlock delivery of large-scale portfolios, and we will work closely with Homes England as an Investment Partner to ensure extra care housing providers like Preferred Homes can benefit from the new programme.
“With day-to-day departmental spending constrained for the foreseeable future, supported affordable housing which brings social care provision under the same roof will allow older people to retain their independence for longer and ultimately save money for local authorities and the NHS. When making capital investments in our most important social services, the government must consider the causal link between housing, health and social care – and support our sector to improve outcomes for our society’s most vulnerable older people.”