The implementation of five-year local housing deals by 2025 would lead to 200,000 additional social homes being built over the next three decades, a new report finds.
The Local Government White Paper calls on the Government to commit to the local deals, which would combine funding from multiple national housing programmes into a single pot.
The report, commissioned by the Local Government Association (LGA), finds that a system that allows local management and greater consistency of funding could lead to a 21% increase in social housebuilding.
The findings also suggest a programme of consecutive minimum five-year housing regimes could deliver net socioeconomic benefits worth £31bn in today’s prices over 30 years.
Cllr Claire Holland, housing spokesperson for the LGA, said: ‘Councils know their areas best and need the autonomy and funding certainty to be able to deliver long-term plans for housebuilding in their local areas.
‘Five-year local housing deals are crucial to give local areas the powers to build more affordable, good quality homes at scale, quickly, where they are needed.’
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