North Devon affordable housing scheme secured as policy reversal welcomed

In North Devon, Allison Homes South West has agreed to sell its Landkey development to Octopus Capital, marking the first whole-site acquisition for the Octopus Affordable Housing Fund. The project will deliver 150 affordable homes, including social rent, affordable rent, and shared ownership options. This development is the first to be directly backed by Homes England funding, with NewArch Homes set to manage the properties long term.

Separately, Devon County Council has welcomed a government decision to reverse plans that would have removed affordable housing requirements from medium-sized developments of 10 to 49 homes. Local officials noted that such developments are critical for rural areas like Devon, where more than half of affordable homes in rural England are delivered through sites of this size. The reversal aims to address the acute shortage of affordable housing and high waiting lists across the county.