The Homes and Communities Agency (HCA) has today set out the ways in which it will use its land, investment and effective regulation to maintain the scale and pace of delivery of new homes and support economic growth over the next 4 years. The Agency remains well placed to use its programmes to support local partners in delivering their priorities.
The 2014 to 2018 Corporate Plan builds on successful delivery by the HCA to date, where the Agency has met or exceeded its core targets every year. Housing figures released in June show how the HCA makes a significant contribution to overall housing supply and is currently on track to meet its spending period commitments, including its contribution to government aspirations for up to 170,000 new affordable homes across England by 2015. The Agency will also release enough land by 2015 to support development of over 16,000 new homes.
The Plan details the HCA’s core targets in 2014/15, including:
- Completion of 30,000 new affordable homes, with a further 22,500 affordable homes brought up to a Decent Standard
- Development of the Regulatory Framework to better protect social housing assets in a sector where risks are becoming more complex
- Completion of over 9,500 new market sale homes, including over 5,500 through Get Britain Building, to increase private housing supply
- Release of HCA land with housing capacity for over 6,000 new homes
- Creation of over 315,000 sqm of new employment floor space to support local economies; and bringing nearly 230 hectares of previously developed land back into productive use.
In addition to the Agency’s target to deliver over 9,500 market sale homes, the anticipated sale of around 29,000 homes through Help to Buy demonstrates the scale of the HCA’s contribution to overall housing supply
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.
“We continue to adapt our approach to reflect the programmes government is asking us to deliver, ensuring an efficient transition from one delivery period to the next. However, 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.”
In order to meet its core targets over the next 4 years, the HCA will continue to focus on five key priority areas:
- Delivery of the remainder of the current Affordable Homes Programme and implementation of the new 2015 to 2018 Affordable Homes Programme
- Increasing private sector housing starts through market interventions
- Bringing surplus public land and assets to the market
- Supporting local economic growth
- Providing effective and proportionate regulation
The Corporate Plan also sets out how the HCA is changing its approach to ensure that it has the resources and skills to reflect the programmes Government is asking it to deliver, including greater use of financial instruments such as loans and equity investments, and a wider land role.
A revised operational approach for the Regulator is also detailed, including 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.
The Corporate Plan can be downloaded at here.