The UK government has announced plans to construct up to 18,000 new social and affordable homes at the cost of $2.58 billion.
The construction period is slated to begin by March 2027 and achieve completion by June 2029. The government requested developers to submit projects for consideration as soon as possible.
The announcement follows government plans to train 60,000 construction workers to address a worker shortage in that sector.
“Everyone deserves to have a safe and secure roof over their heads and a place to call their own, but the reality is that far too many people have been frozen out of homeownership or denied the chance to rent a home they can afford thanks to the housing crisis we’ve inherited,” said Deputy Prime Minister and Housing Secretary Angela Rayner. “This investment will help us to build thousands more affordable homes to buy and rent and get working people and families into secure homes and onto the housing ladder. This is just the latest in delivering our Plan for Change mission to build 1.5 million homes, and the biggest increase in social and affordable housing in a generation.”
