The government has backed us with £39bn – here’s what happens next

We’ve spent months aligning Bromford and Flagship into one of the country’s largest housing associations, bringing together teams, property portfolios and ambitions. We’re developing a new strategy that reflects a delivery-focused, place-based organisation.

We’ve secured land, built out our development pipeline and strengthened our in-house construction capability. We now have a secured pipeline of more than 9,700 homes over the next five years. 

The merger has unlocked £1.9bn in new borrowing capacity, providing the headroom needed for a step change in delivery. With increased capacity, a unified pipeline and a strong balance sheet, we’re no longer constrained by yesterday’s limits. 

The timing couldn’t be any better. The government’s transformational Spending Review represents the most significant long-term commitment to affordable housing in a generation. A £39bn Affordable Homes Programme over 10 years – nearly double the previous commitment – alongside a 10-year rent settlement of the Consumer Price Index plus 1%, clearly signal government backing for housing associations to deliver at scale. 

It’s the clearest sign yet that housing is being treated as vital national infrastructure, not a policy afterthought but a central pillar of economic growth and social progress. These commitments give providers like us the long-term certainty we need to invest, plan and partner with confidence. 

We’ve already committed £8bn of investment in new and existing homes over the next 10 years, but we’re ready to do more. The government’s ambition to deliver 1.5 million homes is achievable, but only if the organisations best placed to deliver are empowered to lead. 

That’s why we’ve committed to delivering 2,000 homes every year for the next 30 years, with at least 50% social rent. At a time when just 7,365 new social rent homes were completed by the UK’s 50 biggest house builders last year, we know the difference this can make. 

This isn’t just about how many homes we build. It’s about where we build, what kind of homes they are and how we use housing to unlock opportunity. We’re focused on enabling people to thrive by investing in homes, places, infrastructure, skills and community value. 

That’s why we welcome the Spending Review’s focus on affordable housing, placemaking and skills. The government has recognised that housing can’t be separated from jobs, training, infrastructure and public services. This approach aligns perfectly with how we operate: working with local authorities, employers and anchor institutions to ensure housing investment leads to long-term benefits for communities. 

“We strongly welcome the government’s planning reforms which will be a real enabler in delivering the affordable homes the country needs”

We’ve made some bold choices, looking to build at scale as we think we can have a greater impact and create places. We’ve scaled up our in-house construction capability for more control over quality and cost. We’ve doubled down on partnerships with local government, Homes England and regional stakeholders to unlock opportunity where it’s needed most. 

We also recognise that challenges remain. Interest rates are high and costs continue to fluctuate, but we strongly welcome the government’s planning reforms which will be a real enabler in delivering the affordable homes the country needs. 

Being recognised as one of the UK’s top three housing association house builders recognises the important role we can play in tackling the housing crisis. Bromford alone has delivered more social rented homes than any other provider during the 2020s. But we’re not driven by rankings; we’re driven by outcomes and the belief that housing is about creating conditions for people and communities to thrive. 

We’ve now got everything we need – the skills, funding and a clear plan to build faster. With national policy aligned with long-term delivery, the opportunity is there for all of us to scale up, unlock regeneration and deliver the homes this country urgently needs. 

Martyn Blackman, chief investment officer, Bromford Flagship