Housing associations are to receive £2bn from the Government to build low-cost homes.

Theresa May told a National Housing Federation conference that the “most ambitious” providers will be able to bid for Government money that could last them until 2028-29, with the intention being to give housing associations greater financial security.

It is hoped by the PM that the money will help remove the “stigma” of social housing, with May claiming that “many people in society – including too many politicians – continue to look down on social housing and, by extension, the people who call it their home.”

She said:

“I want to see social housing that is so good people are proud to call it their home…our friends and neighbours who live in social housing are not second-rate citizens.”

The money is reported to come from housing budgets in the next spending review period.