A new cross-industry report, which sets out the financial realities of delivering social rent homes at scale, highlights that to deliver the 90,000 social rent homes required each year in England will require around £18.8bn in annual subsidy.

The ‘Making Social Rent Homes Viable’ report, led by Grainger plc, argues that such investment is essential to tackling the housing crisis and will deliver long-term social and economic benefits.

Helen Gordon, Chief Executive of Grainger plc, said: “Grainger understands both the challenges and the benefits of delivering new homes in the UK, and how essential it is to factor in the cost of capital and the true cost of delivering social housing. Delivering social rent homes is not only critical to addressing the housing crisis, it will also enable us to address the viability challenges of housing projects across all tenures, helping to unlock a broader mix of homes and create balanced, sustainable communities.”

The report acknowledges the Government’s commitments to delivering homes, however it proposes that more could be done to meet the scale of need, proposing solutions such as fixing affordable housing values at the planning stage, linking rents to household income, recapitalising the housing sector and exploring new funding mechanisms like tax credits.

Fiona Fletcher-Smith, CEO of L&Q, said: “Delivering social rent homes at scale is not just a policy ambition - it’s a social and economic necessity. We know from experience that stable, affordable homes transform lives and strengthen communities. But to meet the scale of need, we must be bold: that means long-term investment, innovative funding, and a shared commitment across government, industry, and society. The time for incremental change has passed; we need decisive action to ensure everyone has a safe, secure place to call home and I am delighted that Grainger has convened the industry and policy makers on this critical issue.”