In the UK, affordable housing schemes play a vital role in addressing the housing crisis, particularly in major cities where demand often outstrips supply, driving up rental costs.
Affordable rent housing initiatives aim to provide accommodation at below-market rates, ensuring that low to moderate-income individuals and families can access decent and affordable homes. According to recent statistics, the demand for affordable housing remains substantial, with over 1.1 million households on waiting lists for social housing across England alone.
One significant scheme in the UK is the Affordable Rent Programme, introduced by the government to encourage the development of affordable housing by Housing Associations and private developers. Under this scheme, rents are typically set at 80% of the local market rate, making them more manageable for those on lower incomes. Additionally, initiatives such as the Build to Rent sector have seen considerable growth, with over 152,000 Build to Rent homes completed, under construction, or in planning across the UK by the end of 2020.
These schemes not only provide affordable housing but also contribute to the overall housing stock, easing pressure on the rental market and offering more options for those in need. However, despite these efforts, challenges persist, including the need for more funding and land availability to support the continued expansion of affordable housing initiatives.
Alderley Group have delivered multiple affordable rent schemes across our portfolio including: Marsh House, Town Hill, and Hallwood Park, we are always exploring new affordable rent schemes to deliver in partnership with Local Housing Associations.
To learn more about our expertise to deliver housing schemes, email: info@alderley-group.com