Affordable Home Completions at 23-Year High
The number of affordable homes completions in the past year is the highest annual figure since 2000, the latest quarterly statistics show.
Almost 11,000 affordable homes were delivered in the year to end June 2023. These homes ensure further progress towards achieving the Scottish Government’s target of delivering 110,000 affordable homes by 2032, with 70% of these for social rent and 10% in rural and island communities.
Quarterly statistics on the Affordable Housing Supply programme show there were a total of 1,780 affordable homes completed in the latest quarter April to June 2023. This brings the total number of affordable homes completed in the 12 months to end June 2023 to 10,757, an increase of 12% (1,188 homes) on the 9,569 homes completed in the previous year, and the highest annual year to date completions figure since the start of the series in 2000.
There were increases in the number of affordable homes completed for social rent by 8% (604 homes), other affordable rent by 46% (500 homes), and affordable home ownership by 9% (84 homes).
Where new housebuilding overall is concerned, there were 23,346 all-sector new build homes completed in Scotland in the year to end June 2023. This is an increase of 7% (1,481 homes) on the 21,865 completions in the previous year, and the highest annual figure to end June since 2008.
At the same time, the SNP have called upon the UK government to provide additional support to homeowners amid the news that mortgages in arrears jumped from April to June this year, to the highest level in seven years. A survey by the Bank of England confirmed the increase, as well as highlighting that mortgage loans fell by the largest amount on record in the three month period.
This month, Scotland’s First Minister, Humza Yousaf, gave his support to introducing a tax relief on mortgage payments. Such a scheme could reduce the burden being felt by working households in Scotland by allowing people to make mortgage repayments from their salary prior to tax and national insurance deductions.