We’re investing £50 million to build affordable homes in the south-west and nationally over the next few years.
As the UK faces a shortage of affordable housing, pension funds are stepping in to help meet this challenge.
Our new investment will fund approximately 250 new affordable homes for up to 1,000 people, a fifth of which will be in the Avon area.
Councillor Shaun Stephenson-McGall from the Avon Pension Fund Committee said:
There is a real need for affordable housing locally and across the UK. This investment will provide energy efficient, affordable housing for those that need it most including families and key workers.
This investment will deliver financial returns for the pension fund as well as benefiting society as we help increase the supply of affordable housing.
Avon Pension Fund is making this housing investment through the Octopus Affordable Housing Fund alongside other LGPS funds including Devon, Gloucestershire, Clwyd, and London.
Avon Pension Fund’s commitment to local impact investing
Last year we announced we were ready to invest about £175 million into local impact investments.
We’re doing this in three steps:
- In January 2024 we announced a £50 million investment into south-west solar farms.
- In summer 2024 we announced this new £50 million investment into affordable housing.
- The next step in local impact investment is likely to take the form of funding small and medium-sized businesses.
