ARK welcomes yesterday’s announcement from the Housing Secretary, Robert Jenrick to extend the current Affordable Homes Programme to March 2023.
It seems that the Government has decided to extend deadlines relating to the current SOAHP programme, not only for completions but to Shared Ownership Sales as well, saying “spades must be in the ground” before March 2023; so it appears that not only do providers have additional time to complete schemes but also to start new projects under the 16/21 SOAHP programme.
The sector is still waiting to hear the detail of, what the Government have confirmed as a £12.2bn programme to fund new schemes in the 2021/26 period. We are keen to see the form of tenures to be supported and would love to see an increase in the numbers of Social Rent but we fear the Government may offer increased support to market initiatives, not the least because the indicated support for a 1,500 home “First Homes” trial.
But overall this is good news for all developing HA’s, councils and ALMO’s, it looks like the cash is there now and for the next 5 years so preparing what Boris loves to call “shovel ready” projects should be a priority. With a 26 strong development team ARK will be pleased to help clients with any aspect of your development programme.