Rachel Reeves is urged to allocate more funds for affordable housing as a Savills report indicates the government has greatly miscalculated home building projections. This raises concerns regarding Labour's commitment to construct 1.5 million homes. With pressure from various stakeholders, including housing secretary Angela Rayner, new funding and support for housing associations may be essential to meet targets. The report emphasizes the need for substantial investment to address housing supply issues, with a focus on social housing as a priority in upcoming spending reviews.
"This analysis shows that reaching the OBR's forecasts, let alone the government's targets, will require a generational boost to investment in social and affordable housing."
"The heroic rates of growth forecast by the OBR will not be achieved without further action from the government to support demand, particularly support for housing associations".
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