Chancellor Rachel Reeves has announced an additional £2bn for the Affordable Homes Programme (AHP), marking the third funding top-up in five months. This latest injection is expected to support the development of up to 18,000 new social and affordable homes. The funding acts as a bridge to a new multi-year AHP set to be unveiled in the upcoming Spending Review on June 11. The extra funds will be allocated under the same terms as the existing AHP (2021-26) and prioritise homes for social rent. Developments supported by the grant must begin construction by March 2027, aligning with the government’s broader goal of building 1.5 million homes by 2029. The announcement has been widely welcomed by housing associations, industry leaders, and financial institutions, who view it as a crucial step in addressing the UK’s housing crisis. The full details of future funding are expected in the summer Spending Review.
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