Wednesday, April 15, 2009

HCA to build 'at least' 50,000 new affordable homes next year

Homes & Communities Agency (HCA) boss Sir Bob Kerslake has pledged that his organisation will deliver at least 50,000 new affordable homes in 2009/10 despite difficult market conditions.

The HCA chief executive made the prediction as he unveiled the agency's preliminary end-of-year results.

Kerslake said that the body, which began operating on 1 December after inheriting English Partnerships and the Housing Corporation, delivered 50,000 new, affordable homes. It also met its target to invest ВЈ3.9bn on its national housing and regeneration programme.

"It's a tough market out there. To deliver these results is a credit to all of the sector that is involved but no-one is under any illusion that the year ahead is going to be a challenging year," he said.


HCA to build at least 50,000 new affordable homes next year


But he added that he was confident that the agency would be able to deliver at least as many houses in 2009/10 as it had in 2008/09, although he could not give precise numbers until it has a reached a funding settlement with the government.

The homes are likely to be a mix of rent-to-buy and low cost homeownership (LCHO) homes, although the mix of rent-to-buy homes is likely to increase, as housing associations become more wary of building LCHO homes.

HCA 2008/09 preliminary outturns:

National Affordable Housing Programme:

Completions, Rent - 27,501 (105% of target) Completions, LCHO - 19,743 (91% of target) Starts on site, Rent - 30,389 (101% of target) Starts on site, LCHO - 10,787 (77% of target)

Property and Regeneration:

Brownfield Land Reclaimed - 327 Housing Starts Commissioned - 3,144 Housing Completions - 6,201 Employment Floorspace (Sq m) - 452,378 Private sector investment (ВЈm) - 1,025

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