Only 4% of the government’s investment in housing is being spent on affordable housing to rent, new figures collated by the Chartered Institute of Housing (CIH) reveal.
The research shows that while the Government invested £45bn in housing from 2015/16 onwards, only £2bn of this was spent on below-market rented housing.
The UK Housing Review briefing (launched later today) shows that a lot of the money previously spent on housing for rent is now going towards low-cost homeownership initiatives, such as shared ownership and starter homes.
CIH chief executive Terrie Alafat, said: ‘These figures represent what we believe to be the biggest ever programme of government support for private housing.
‘While we support the government's commitment to build one million new homes in England, our concern stems from the extent to which these new homes are created purely for the private market and home ownership.’
