The government has announced an overhaul of the way it funds affordable housing in regeneration projects.

Homes England said grant funding provided through the Government’s next affordable homes programme, for 2021-26, will be able to be used to fund replacement homes for the first time as part of wider estate regeneration plans.

However, the announcement came as Homes England revealed it had missed its starts target for the 2016-23 affordable homes programme as delivery fell back in the last year amid rising construction costs and economic turbulence.

…