As Investors Eye Affordable Housing, Provider Plans £500M Spending Push

A Manchester-based affordable housing provider is planning to buy up to £500M of new assets next year, but it could face heavier competition as investors look to put more money into the sector.  HSPG this year bought £200M of new-build housing from developers operating under section 106 agreements with local planning authorities, Chief Investment Officer Michael Pearson told the attendees at Bisnow’s UK Living Series: UK Affordable Housing Conference, held at the Stand Palace Hotel. Next year, it plans to at least double that figure. “That will make us one of the biggest UK buyers of new-build affordable housing in the UK,” Pearson said.