07/05/2025
Of the 360 homes proposed at Hollands Farm, 172 of them will be affordable housing.
Affordable housing includes homes for sale or rent and is for people whose needs are not met by the private market.
Affordable housing is a key element of the government’s plan to end the housing crisis, tackle homelessness and provide aspiring homeowners with a step onto the housing ladder.
Examples include:
Affordable or Intermediate Rent: Homes let at least 20% below local market rents (affordable rental properties) or let at rates set between market rents and social rents.
Social Rent: Set through the National Rent Regime in England at around 50% of market rents, Social Rent homes are for people on low incomes.
Affordable housing for sale: This can include Shared Ownership, whereby homes are sold at a discounted rate (at least 20% below market value) and homes referred to as being ‘Rent to Buy’.
Homes committed by developers to be sold at a discount:
Developers can commit to selling homes at least 20% below local market value.
Discounted homes for first-time buyers: For example, the ‘First Homes Scheme’, in which homes are sold to people buying their first home for 30% to 50% below market value.
