The latest data from the Ministry for Housing, Communities and Local Government confirms that in 2017-18 there were 47,355 affordable homes built in England, representing a 12% increase over the year before.
Knight Frank residential research associate Patrick Gower said that the Prime Minister will be encouraged by this data revealing that the affordable housing supply in England has gone up.
Mr. Gower said that the percentage of new-builds that were classed as affordable also went up to 24% from 23% the year before. The increase appears amid a wider trend in affordable housing supply, which increased 6% in 2017-18.
He explained that the affordable housing completions in England has remained steady. Homes for social rent represented 14% of these completed projects, the same as in 2016-17. Over half of all completions (57%) were for Affordable Rent, a 1% decrease from 58% the year before. Intermediate Housing schemes such as Shared Ownership came in at 29%, up from 28% the year before.
The number of affordable homes that began on site climbed to 53,572, an increase of 11%. This suggests that the amount of housing to be completed in the next two to three years is also likely to go up.