Private developers are to build around 400,000 'affordable' new homes by 2020, according to Chancellor George Osbourne. In his Spending Review and Autumn Statement, the Chancellor announced the housing budget is to be doubled to over £2 billion a year.
"First I am doubling the housing budget to £2bn a year and will deliver 400,000 new homes by the end of the decade," Mr Osbourne said.
"That is the biggest house building programme since the 70's."
Now that is superb news for tenants, the housing market and the industry - Seriously good news!