£2 billion Grant Funding for 18,000 New Social and Affordable Homes

Construction sector businesses welcomed the announcement made by the Chancellor and Deputy Prime Minister that the government will be making a £2 billion investment for the building of 18,000 new social and affordable homes.

Sites available for development in Manchester and Liverpool may be the first to benefit from the funding, the majority of which will be spent in 2026/27. Projects being helped by the funding will need to have started by March 2027 and finish by June 2029.

The investment is an initial step ahead of more long-term investment that is currently being planned. The government has said they will set out the full funding for 2026/27 and beyond at the Spending Review later in the year.

See: https://www.gov.uk/government/news/2-billion-new-investment-to-support-biggest-boost-in-social-and-affordable-housebuilding-in-a-generation