Colchester City Council has welcomed the Chancellor’s announcement of a £39 billion commitment to affordable and social housing as part of today’s Spending Review.
The funding – aimed at delivering 1.5 million new homes by 2030 – marks a major step forward in addressing the housing crisis and provides much-needed clarity for councils planning long-term investment.
Cllr Julie Young, Portfolio Holder for Housing said: “We welcome the Chancellor’s announcement of a multi-year spending review that provides greater financial certainty for councils. The scale of investment in affordable and social housing is particularly encouraging and gives us a stronger foundation to tackle housing shortages, support local growth, and improve outcomes for residents.”
The council also welcomed the Government’s 10-year rent settlement, describing it as a significant milestone that creates a more stable and sustainable environment for councils to manage and invest in housing. Rent convergence, they noted, will be key to closing funding gaps in Housing Revenue Accounts and unlocking future development.
In Colchester, housing pressures remain high – with demand for affordable homes outpacing supply. The council is working with partners to improve the quality of temporary housing, which remains a necessity for many whilst there are insufficient affordable homes in Colchester.
“This announcement opens the door for real progress,” Cllr Young continued. “We look forward to seeing the full details of the settlement and will continue working with government, housing providers, and regional partners to ensure that investment translates into delivery – on the ground, in our communities, where it’s needed most.
“Longer-term, clarity on future requirements – such as a new Decent Homes Standard – and how they will be funded will be essential for effective planning. We want to ensure our strategies align with both local need and national ambition.”
The council has pledged to bring forward plans to maximise the impact of the funding locally, including potential expansions in new council housing and partnerships that focus on building green, energy-efficient homes that are affordable for Colchester families.
Page last reviewed: 12 June 2025