Affordable Housing Supply Programme: out-turn report 2021-2022

Budget and programme

Table 1 in the Annex provides the breakdown of the 2021-22 budget which included a mix of grant and Financial Transactions (FTs) for loans and equity.

Programme out-turn

The following Programme Out-turn tables are available within the Annex:

• Table 2 - AHSP Expenditure by Local Authority Area and Central Programmes
• Table 3 - AHSP Expenditure by Category for 2021-22
• Table 4 - AHSP Expenditure by Local Authority Area and Programme for 2021-22
• Table 5 - AHSP Approvals by Local Authority Area and Programme for 2021-22
• Table 6 - AHSP Site Starts by Local Authority Area and Programme for 2021-22
• Table 7 - AHSP Completions by Local Authority Area and Programme for 2021-22

Charitable bonds

The Scottish Government was the first major Scottish investor in Charitable Bonds.  The Charitable Bond programme was first introduced in 2013-14 as an innovative investment model for the affordable housing sector.  It makes development finance available to Registered Social Landlords for affordable housing, whilst also generating capital funds in the form of Charitable Donations which then funds additional social rented homes. 

During 2021-22 there was no investment in Charitable Bonds and no donations were issued.  This was due initially to a lack of available Financial Transactions and then the need to re-procure an agent to administer the Charitable Bond Funding. Due to challenges with the pace of delivery, additional funding from Charitable Donations previously generated was not required to supplement the core AHSP funding.

Summary of completions and expenditures 2016-2017 to 2021-2022

Tables 8 (a) and 8 (b) in the Annex show homes delivered towards the 50,000 target and homes delivered towards the 110,000 target.

Low-Cost Initiative for First-Time Buyers (LIFT)

The Open Market Shared Equity (OMSE) scheme aims to help first time buyers and priority access groups on low to moderate incomes to purchase a home on the open market with an equity contribution of up to 40%.

Monitoring information is available on the characteristics of households purchasing through the OMSE scheme.

Table 9 within the Annex shows LIFT breakdown by category.

Grant funding

Table 10 in the Annex details the average total cost per home and the average grant per home for the 2021-22 programme.  These are the actual costs relating to the delivery of the projects within the AHSP programme, recorded at tender approval stage and Tables 18 (a), 18 (b), 19 (a) and 19 (b) show Grant Recipients.

Tables 11 (a) and 11 (b) in the Annex illustrates the average cost to deliver an affordable home over the past 5 years and also the average grant input by the Scottish Government, recorded at tender approval stage.