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HCA sets out four-year growth plan and 2014 building targets

17/07/2014
HCA sets out four-year growth plan and 2014 building targets
The Homes and Communities Agency has detailed how it plans to maintain the scale and pace of delivery of new homes and support economic growth over the next four years.

The 2014 to 2018 Corporate Plan also sets out details of its £4.1bn spending programme and building targets for 2014/15.

This includes delivering the new 2015-18 Affordable Homes Programme and contributing to the government’s target for the supply of 165,000 new affordable homes by the end of March 2018.

A key job this year is to allocate £1.7bn in funding to housing providers who submitted their bids for cash in April.
 
Among it core targets this year, the HCA aims to complete 30,000 new affordable homes, with a further 22,500 affordable homes brought up to a Decent Standard.

It is also committed to completing over 9,500 new market sale homes, including over 5,500 through Get Britain Building, to increase private housing supply.

The HCA will release land with housing capacity for over 6,000 new homes and create over 315,000 sq m of new employment floor space to support local economies.

To meet these delivery challenges the Agency will be strengthening its capacity and its internal processes, particularly around land development and disposal.

It will also establish HCA-Investments to drive loans and equity investments, and a wider land role.  

The Agency has seconded in three senior professionals with property lending expertise from the private sector to advise on the establishment of the specialist investment arm.
 
The HCA has also undertaken to adopt a more risk-based approach, focusing on higher risk providers, a greater focus on exposures from non-social housing activities, and a renewed consideration of how effectively housing providers are managing key sector risks.
 
Andy Rose, Chief Executive of the HCA, said: “This plan confirms priority areas of focus for the HCA and what we plan to achieve in 2014/15.

“It also clearly sets out our approach to local delivery and the many ways in which we will continue to support our local partners, as part of our commitment to people and places.

“We do this by making effective use of our programmes to support local priorities and increase the supply of new homes to stimulate local growth.
 
“While our approach may be changing, the outcomes we are seeking remain the same; to meet local priorities and create successful communities with homes and jobs.”

Mike Leonard CEO of the Modern Masonry Alliance said, "We welcome the determination of the HCA to continue to drive delivery. We remain concerned, however that the ‎HCA is excluding local builders and is not promoting the use materials produced in the UK‎ rather than the importation of products such as timber.

"The HCA needs to consider that the public money it is spending will only be available if we continue to create local wealth, jobs and growth."