In England, over the three years 2008-11, we are investing over £8 billion in affordable housing through the Homes and Communities Agency (HCA). Around £6.5 billion of this will be directed towards social rented homes.
Of the £8 billion around £170 million is to be used for affordable housing in the North East region. We have not set out funding below regional level. Bids for HCA funds are made on a competitive basis. The HCA will publish quarterly the allocations made as a result of approvals of bids on their website:
On 2 September we announced a £1 billion market rescue package to increase confidence, stability and fairness in the housing market, building on the previous announcements in May and July. As part of this package, and the pre-Budget report we are bringing forward £550 million in order to deliver up to 7,500 new social homes over the next eighteen months on top of current assumptions.