August 2024

Thousands of homes built under Britain’s affordable housing rules are remaining empty due to housing associations’ lack of funds to purchase them, with some developments delayed as potential buyers withdraw amid a budget squeeze and properties designated for homeless families staying vacant for up to three years.

Chancellor Rachel Reeves will continue with tax rises and spending cuts in her October Budget, despite the Bank of England’s decision to reduce interest rates to 5% in a bid to alleviate financial pressures.