In a written statement to Parliament, Matthew Pennycook promised “grant funding support and regulatory certainty and stability” to help Registered Providers quickly ramp up investment in existing and new stock.

The sector will be consulted on a range of proposals over the next few months, including:
– New social homes to be exempt from Right to Buy for 35 years
– Large providers to get a three-year transition period for the Competence and Conduct Standard
– A reformed Decent Homes Standard for both the social and private sectors
– Two new funds sharing £13m to improve resident experience and council housebuilding capacity

NFA Head of Policy Lisa Birchall said: “This is exactly what is needed.

“The national housing shortage – estimated last year at 2.5m fewer homes than we actually need in England alone – is damaging every part of our society and economy. It has to be tackled from every conceivable angle.

“The NFA has argued for more than a decade that social housing is not an ambulance service. With home-ownership and the private rented sector, it is the third essential pillar of a healthy, well-supplied housing market that offers an affordable choice of tenure for all.

“This week’s proposals around long-term funding, tighter control of the Right to Buy policy, and the careful phasing-in of social landlords’ climate change and Decent Homes responsibilities will – without a doubt – make a massive difference to many, many people.

“The NFA will consult with members and our Tenant Advisory Panel on the coming consultations. But for now, our members want to thank ministers and civil servants for working in partnership with the sector to bring these announcements together.

“After many years of being a note in the policy margins, it feels that housing is once more being treated as a vital element of national infrastructure.”