£39bn Plan to Construct 70,000 Social and Affordable Homes Across England

POLICY WIRE — London, UK — The UK government has unveiled a £39 billion plan to construct 70,000 social and affordable homes across England. Funding has been granted to key regions including Greater Manchester, the West Midlands, and West Yorkshire. Additionally, £6 billion has been earmarked for London.

The initiative aims to address the growing demand for affordable housing and reduce homelessness. Specific allocations include £10 billion for Greater Manchester, £8 billion for the West Midlands, and £7 billion for West Yorkshire. The remaining £14 billion will be distributed among other regions.

Housing Secretary Michael Gove stated, “This significant investment will ensure that thousands of families across England have access to safe, affordable, and high-quality homes. This is a crucial step towards achieving our housing goals and improving the lives of many.”

The plan is part of the government’s broader strategy to increase the supply of social housing and make homeownership more attainable for low- and middle-income families. Construction is expected to begin within the next six months, with completion dates varying by region.

Reporting by Policy-Wire (PW)