To ask the Secretary of State for Housing, Communities and Local Government, with reference to his Department's explanatory memorandum to its Supplementary Estimate 2017-18, how much funding remains allocated to starter homes in each financial year from 2018-19.
Answered on
8 March 2018
Surrendered and reallocated funding are as set out in my Department’s 2017/18 supplementary estimates. This compares with underspends including £122 million for “Building prosperous communities, promoting regeneration and tackling deprivation” and £144 million for “Improving the supply and quality of housing” in 2009/10 when the Rt Hon Member had responsibility for housing.
There remains funding for the Starter Home Land Fund which we are reviewing following the announcement of a new £1.1 billion land assembly fund in the Autumn Budget. This change in the starter homes budget will reduce the number of starter homes expected to be delivered through funding compared to the original estimates. But, as the Housing White Paper made clear, the Government’s aim is to ensure young people have a range of housing products they can choose from to support their aspiration into homeownership, including Help to Buy, shared ownership and rent to buy, as well as discount market sales like starter homes. The additional funding for the affordable housing programme is expected to deliver at least 25,000 additional affordable homes, including homes at a social rent.