Government skews funding towards high housing need areas
0The government has announced that 80% of funding through five housing programs will go to areas of the highest affordability pressure in the next five years.
A new definition of affordability pressure has been calculated by those who are above the median ratio of house prices to incomes.
The affected funds are the Housing Infrastructure Fund (Forward Fund); the Estates Regeneration Fund; the short-term Home Building Fund; the Small Sites Fund; and the Land Assembly Fund.
A statement from the Ministry of Housing, Communities and Local Government said: “Organisations seeking funding for schemes in local authorities areas that are below the median will not be excluded from the above funding programs and are still encouraged to apply for the 20% of available funding over the next five years.”
