While public investment is required to supply the level of affordable housing England needs, this investment also provides savings and benefits across government departments, according to a new report from leading research consultancy Frontier Economics.
Published yesterday, the research was jointly commissioned by The National Housing Federation and the g15.
Basing its analysis on HM Treasury’s Green book guidelines, the report finds that:
- The UK faces a chronic problem of undersupply, requiring an urgent and decisive policy response
- In spite of the increase in price, the market has not responded with increased supply, creating widespread problems of affordability
- To provide an appropriate level of affordable housing, public investment is required
- Investment in affordable housing supports multiple social objectives
- Housing associations provide more than just houses – they can provide savings and benefits across government departments
- Housing associations have responded to recent economic conditions and the new funding climate by being more innovative in how they fund new affordable housing
- However, government investment is still fundamental and underpins the delivery of affordable homes
Brendan Sarsfield, CEO of Family Mosaic and Chair of g15, comments:
“Analysis based on the Treasury’s own Green Book Guidelines demonstrates just how vital public investment is to deliver of the affordable homes the country needs. However it also demonstrates how much extra value housing associations add. Our innovation and success in drawing in external funds make public capital investment go further. At the same time we save public funds, and deliver improved social outcomes in areas such as health and employment support, as well as tackling homelessness.”
The report can be found here.
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