Most of HCA programme to come in last two years
More than 80 per cent of the homes to be built under the Homes and Communities Agency’s affordable homes programme will come in the last two years.
The HCA’s corporate plan for 2012-15 has revealed that 52,610 of the 63,824 homes that the HCA has retained responsibility for delivering as part of the £1.8 billion programme are marked for completion in either 2013/14 or 2014/15. The agency has set a target of just 8,520 completions for the current financial year.
In all, 80,000 homes are expected to be built through the programme, with the remainder being funded by the Greater London Authority after it took on responsibility for delivery of the programme in the capital this year.
The corporate plan outlines the HCA’s key priorities over the next three years. Away from the affordable homes programme, it has targeted 15,900 new housing starts as part of the Get Britain Building fund, which offers loans for house builders seeking to develop on stalled sites.
It is also working to help the government release public land for development, aiming to provide 102,000 new homes before the end of the current comprehensive spending review period in 2015.
Pat Ritchie, chief executive of the HCA, said: ‘This plan sets a clear direction for the HCA, taking stock of our evolving role over the last year coupled with the government’s ambitions set out in the housing strategy. We have set solid foundations this year, working with our partners to boost housing supply and economic growth, and we will continue to focus on delivery in the months ahead.
‘By working closely with providers we have reviewed the delivery of housing supported through the £1.8bn affordable homes programme. This means that some of the 80,000 homes set to be built under this programme will be delivered sooner than originally anticipated and invigorate the communities that need them.’
The HCA has also committed to reduce its baseline cost by 50 per cent by 2015. Its planned net spending will reduce from £1.47 billion in the current financial year to £855 million in 2014/15.