Spending on affordable housing due to be cut in 2024

A number of housing associations in England have cut their planned spending on affordable housing this year due to their budget, lending to the worsening housing crisis in the UK.

The number of these homes that were expected to have been built over the next five years has reportedly dropped by 64,000.

Social housing provided by both local councils and housing associations has been becoming increasingly scarce as the number of social rented homes in England is failing to meet the demands of those in need of affordable housing options, particularly throughout the cost-of-living crisis.

Approximately 1.2m households are on a waiting list for social homes in England and, according to Shelter, a record number of 279,400 people are currently stuck in temporary accommodation.

Sources:

https://www.ft.com/content/11e09c45-dec4-485e-9576-221859509e30