Government Announces Affordable Housing Scheme, Immediately Makes Housing Unaffordable to Discuss

The Government has announced a major new programme to build thousands of affordable homes across England, prompting widespread relief among people who had begun to suspect that "affordable housing" was simply something politicians said immediately before showing them a house costing £475,000.

Under the first phase, almost £10bn will be distributed to councils and housing associations, forming part of a £39bn programme intended to deliver tens of thousands of new homes over the next decade.

Ministers described the announcement as a landmark moment.

Housing campaigners agreed, although several noted that the landmark appeared to be located approximately twelve miles outside London and surrounded by executive homes.

The Government says the programme will help tackle Britain's housing crisis by increasing the supply of properties available at affordable rents and giving more people the opportunity to get onto the housing ladder.

The precise definition of "affordable", however, remains a matter of considerable interest.

Under current arrangements, affordability is generally calculated by reference to local incomes and rents, rather than by asking whether an ordinary person can actually afford the property without selling a kidney.

The Government has also confirmed that around 60% of the homes in the first phase will be allocated for social rent, prompting criticism from campaigners who had hoped for a greater commitment to traditional council housing.

The Government insists the programme represents a substantial expansion of social housing.

Young people have welcomed the announcement cautiously, particularly those who have spent the past decade being advised to save for a deposit while watching house prices rise faster than their savings.

One 34-year-old prospective buyer said she had saved £18,400 towards a deposit.

The average deposit required for one of the new properties is expected to be considerably higher.

This has been described by the Government as "encouraging progress".

Estate agents have also welcomed the scheme, although their enthusiasm appears to be concentrated on the prospect of tens of thousands of additional properties entering the market rather than any increase in the number of people capable of buying them.

The Government says the programme will create jobs, support local economies and give young people greater security.

Young people have responded by asking whether the promised housing ladder actually comes with an upper floor.

Meanwhile, ministers have urged patience, pointing out that Britain's housing shortage has accumulated over decades and cannot be solved overnight.

Construction industry representatives agreed, noting that "overnight" is considerably shorter than the average time required to obtain planning permission, assemble funding, purchase land and build a house.

The first properties are expected to be completed over the coming years.

By then, officials say, they should be affordable.

Subject to wages, interest rates, land prices, construction costs, planning regulations and the Government's continuing definition of the word "affordable".

In the meantime, millions of people will continue renting properties they cannot afford while saving deposits for houses they cannot afford.

The Government remains confident that the new programme will change this.

Eventually.

Possibly.

Once the houses have been built.