As the UK’s largest housing association managing 100,000 homes in England and Scotland,Sanctuary had previously committed to build 24,000 new homes by 2026.

Of the 30,000 new homes, 2,700 of them will be social housing built without grant, which the Group is funding out of its surplus and will be managed by Sanctuary Housing.

The rest will be made up of homes for shared ownership, older people’s accommodation and properties for outright sale, with around two-thirds being classed as affordable or below current market levels. The Group’s ambitious development plans also include the building of 20 new care homes.

Following yesterday’s announcement, Sanctuary expects to be able to build even more social housing by accessing government grant.

David Bennett, Sanctuary Group chief executive, said: “Housing is the biggest outlay for most families so today’s announcement is a welcome step towards solving the housing crisis.

“By building 30,000 homes by 2026, Sanctuary will help increase housing supply across the country.

“Sanctuary’s size means that we are able to build social housing without grant - helping those who are just about managing - and with today’s announcement we will be able to build even more social housing.”

Sanctuary Group includes registered provider Sanctuary Housing, supported housing specialist Sanctuary Supported Living, care business Sanctuary Care, and student accommodation provider Sanctuary Students.