The Homes and Communities Agency (HCA) is in a strong position to deliver the new investment detailed by the Chancellor today, according to Chief Executive Andy Rose.
The Budget saw the announcement of significant new investment in housing to support over 200,000 new homes. Chancellor George Osborne has outlined a number of initiatives including a £6bn, 4 year extension to the Help to Buy equity loan scheme and a £500m Builders Finance Fund.
HCA Chief Executive Andy Rose said:
“Once again Government has put a strong emphasis on housing in the Budget. In our role as Government’s housing delivery agency, we welcome today’s announcement by the Chancellor of up to £7bn total investment to support delivery of thousands of new homes, which builds on the Spending Round announcement of £3.3bn for affordable housing.
“The likely role for the HCA builds on our expertise, the success of our existing programmes and proven track record of delivery, and on our effective regulation.
“The Budget reiterates Government’s commitment to the housing sector. Investment in housing meets the needs and aspirations of homeowners and provides choice for renters. It is also a key driver of local economic growth, creating jobs in construction and the wider supply chain, and helping employers to attract the staff they need, as well as stimulating buying activity in the local economy. We will work with DCLG and our partners on the details of the new programmes and to maximise their impact.”
The Budget has also set out the conclusions from the strategic review of land undertaken by the Government Property Unit (GPU), which confirms scope to generate £5bn of receipts from land and property.
Andy Rose added:
“We also welcome the commitment to quantify housing and growth ambitions for public land by the next Autumn Statement. Disposal of land is core business for the HCA – we are already increasing the amount of public land for development, speeding up existing development and re-starting stalled schemes and we are on track to bring forward enough land by 2015 for more than 16,000 homes.”