Spending Review spells positive news for social housing

11th Jun 2025

Today’s Spending Review saw the Chancellor announce a major boost to the Affordable Homes Programme, with an injection of £39 billion over ten years to increase affordable housing stock nationally. 

It is pleasing that the Chancellor also emphasised prioritising increasing the numbers of new social rent homes to help support the people in most housing need.

In common with housing associations across London we welcome the confirmation of a 10-year rent settlement and look forward to working with local authorities, the GLA and other partners to deliver many new affordable homes for our local communities. 

The additional announcement of a consultation on rent convergence is also positive news, which will help the stability of housing associations such as Newlon looking to invest in much-needed new social housing whilst continuing to upgrade and maintain existing homes.

A further piece of really positive news is the £1 billion funding set out today for the building safety remediation of social rent homes. This will support us to continue with our ongoing programme of fire safety remediation and to ensure we can carry out these much- needed safety works across the full range of our stock.