Prime Minister Theresa May has now finally confirmed the housing benefits cap would not apply to people living in extra care housing or supported living.
Specialist developers of supported living and extra care housing schemes say the announcement gives investors a massive confidence boost and say that hunger for more land to build new schemes is now at its highest level for more than two years.
Alastair Sheehan, Development Director of specialist supported living developer HBV, said:
“This is good news and is warmly welcomed by developers, registered providers and care providers. The decision provides a major boost to the confidence levels for investors in the marketplace and should mean we see more bespoke housing built for people living with disabilities and the elderly, allowing them to live in fit for purpose accommodation.
“As a result of this announcement, we are renewing our efforts to secure new sites for extra care schemes, to complement our supported living pipeline for vulnerable adults across the UK.”
HBV is the leading provider of bespoke property for specialist supported housing in the UK. Working as part of a joint venture with Morgan Sindall Investments Limited, it is committed to pioneering the development of independent living and delivering suitable accommodation for the tens of thousands of vulnerable adults living in inappropriate, badly serviced and often, poor quality accommodation. As well as supported living, the company also delivers extra care schemes for the elderly.
See the full policy document unveiled this week here.