The North West has been allocated £837 million for housing over the next three years, an increase of £341 million on the previous spending review period.
Of the £837 million, £526 million is specifically for the provision of affordable housing. The Government are expecting a minimum output of 6,900 homes for social renting and 3,000 units for affordable home ownership. However decisions still have to be made on how best to spend these resources to achieve these aims.
Part of this regional allocation will go towards the Housing Corporation’s National Affordable Housing Programme (NAHP). The first tranche of the 2008-11 programme was announced on 26 February 2008. £45.3 million will be allocated to Lancashire, and £2.9 million will go to Lancaster, which includes Morecambe in its area. Further allocations will be made later.
In addition, £311 million of the regional allocation will go to local authorities over the next three years, and Lancaster city council has been allocated £1.28 million for 2008-09.