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Social Housing Investment: A Step In The Right Direction?

January 6, 2022

Is the increase in social housing investment enough to rectify the issues of 2021?

The end of the Twenty Twenty-One saw an incredible increase in social housing investment, and, of course, that's something to cheer about. However, we must not lose sight of the importance of continued investment in the most troubling times. 

The coronavirus pandemic has ravaged the world we once knew in countless ways. One of the most prominent casualties has been the housing sector. Of course, it's vital that we understand the darkness; otherwise, we would have no knowledge of the light, and in these times, we need to take those little glimmers as hope.

It was the Welsh government who, in the final working weeks of twenty twenty-one, ploughed money into the housing package once more. This time it was an additional commitment to helping solve homelessness and to reducing carbonisation by the years 2024-25. Alongside previous housing sector funding increases, including money attributed to building safety risks, the total package is worth over £1bn.

Despite the above being steps towards a brighter destination, the bulk of the investment has been allocated towards social housing. An investment of £310m a year for the next three years highlights the intentions of those in power.  Undoubtedly pushing us towards a better future for the sector. 

For those outside of the housing sector, it's vital to stress the importance of this figure. For perspective, only five years ago, the Welsh government were spending £70m per year on the same problem.

 

What will the investment do?

The investment will provide a solid starting point for social housing providers. Let's be honest, that is needed now more than ever. The role of social housing has to play in national poverty is vital, and therefore, these investments are clearly a step in the right direction.

However, it's unlikely that the investment will be beneficial without sharpening up on governance and ruling against those social housing providers who allow their standards to become inadequate. 

That being said, the problems of 2021 are lessons from which we must learn. They are the light leading the way towards a brighter tomorrow. It's time for housing associations to step up and provide housing that benefits communities across the board; 2022 is here, and it's time for a change. 

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