Short-term affordable housing grants are already having an impact on the delivery of much-needed homes, says charity in response to recent Savills report.
In just 10 months community led housing groups have submitted plans to build around 4,000 homes using grants from the £163m Community Housing Fund. But with the Fund set to close in March 2020 outside of London and the need for money to be spent by that time, it is likely that many of the planned homes will go unbuilt.
Community led housing encompasses community land trusts, cohousing and housing co-operatives and has been highlighted by Government as a way to help diversify the market and bring about high-quality housing that is backed by surrounding residents.
The report, Additionality of Affordable Housing, finds that the expansion of affordable housing and in turn the need for additional grant funding is needed if the government is to reach its target of building 300,000 new homes each year until the mid-2020s.
It also confirmed that widening the range of new homes that are available, by type and tenure, will increase the number of occupiers who can and want to live in those homes, accelerating the speed of market absorption and the build-out of sites.
Tom Chance, director at the National Community Land Trust Network, said:
"Communities led housing groups across the UK are bringing forward schemes to provide thousands of homes. But like housing associations, they need enough funding and certainty over a longer timescale to bring forward and complete projects.
“The Community Housing Fund is a groundbreaking source of support, but unless it is extended the 18-month window will be too small to deliver the thousands of homes in the pipeline. Savills are absolutely right that greater diversity and partnership working can lead to additional homes being built and renovated."
Beth Boorman, Communications Manager at the National CLT Network on firstname.lastname@example.org or 07731570748 | 0203 096 7792