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<p>The Government is committed to increasing the supply of affordable housing and
is investing over £12 billion in affordable housing over 5 years, the largest investment
in affordable housing in a decade. This includes the new £11.5 billion Affordable
Homes Programme, which will leverage up to £38 billion of private finance and will
provide up to 180,000 new affordable homes across the country, should economic conditions
allow.</p><p>Around half of the new programme will be for social and affordable rent,
and it will deliver more than double for social rent than the current programme. 10%
of delivery will be used to increase the supply of much needed specialist or supported
housing, including housing for older people.</p><p>We will also be using the new Affordable
Homes Programme to fund a First Homes pilot of 1500 homes. The First Homes scheme
will help local first-time buyers onto the property ladder by offering homes at a
discount of at least 30% compared to the market price. That same percentage will then
be passed on with the sale of the property to future first-time buyers, meaning homes
will always be sold below market value, benefiting future generations. On 4 June,
we launched the first phase with further sites set to launch across the country in
the coming weeks.</p><p>Whilst we do not set requirements for the types of affordable
housing that are delivered, Registered Providers work closely with local authorities
to ensure that delivery meets local housing need.</p><p> </p>
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