The government has allocated £8.6bn in grant funding to 80 different housing providers, to develop 118,900 affordable homes over the next five years.
Finance from the affordable homes programme 2021-26 has been allocated via strategic partnerships with Homes England, contributing £5.2bn for 90,000 homes, and the Greater London Authority, with a further £3.4bn for around another 30,000.
Clarion Housing scooped the largest affordable homes grant, with £489.7m backing 6,770 homes. This was followed by Hyde at £413.8m for a further 4,476.
Guinness and Stonewater were together awarded £250m from Homes England, with Guinness bagging an additional £32.7m from the GLA, together supporting 4,447 new homes.
Around half of the homes – some 57,000 – will be provided via intermediate ownership tenures, with a further 29,600 social rented homes and 6,250 affordable rural homes.
In London, 57% of the homes (16,739 homes) will be social rented, and half of those will be delivered by councils.
Homes England’s 31 partnerships with 35 organisations also include a broader range than ever before, with four for-profit providers, including one developer and a number of housing associations.
This includes Legal & General, awarded £125.5m for 2,121 homes; McCarthy Stone, with £93.9m for 1,500 homes; and Blackstone’s Sage, which received £73.5m for 1,750 homes.
Peter Denton, chief executive of Homes England, said: “By forming strategic partnerships with a wide range of public and private organisations, we are creating the conditions needed for institutional investment to catalyse affordable housing supply and in future give local authorities more of the tools they need to plan and act strategically, shaping their communities and building new homes.”
Mayor of London, Sadiq Khan, added: “All Londoners deserve a safe, secure home with enough space to live comfortably, and private outside space to enjoy fresh air. I want to deliver a new generation of genuinely affordable housing in London that sets the standard nationally when it comes to excellent design, safety and sustainability.”
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