The Homes and Communities Agency (HCA) plans to complete more than 9,500 market sale homes as part of its targets for 2014/15.
More than 5,500 of these will be delivered through the government’s Get Britain Building programme, devised for schemes that have stalled due to a lack of finance. In 2013/14, the HCA delivered 6,818 market homes, with 2,839 under Get Britain Building.
These targets are part of the HCA’s Corporate Plan covering 2014 to 2018. It said that under this it would continue to increase private sector housing starts ‘through market interventions’.
The Plan also confirmed that 2014/15 is the final year of the Custom Build fund, which is providing £15 million in recoverable loans to groups and supports developers seeking to bring forward custom build developments. This initiative is part of the government’s plans to boost the contribution of the custom build sector to supply housing across the country. The HCA also confirmed that the 2014 Budget announcement to further support the custom build sector, with a £150 million repayable loan fund to help provide up to 10,000 serviced plots. The Agency will be leading on bid assessment, due diligence and investment decisions, following publication of the bidding prospectus in June 2014.
In the market sale homes sector the agency anticipates the sale of around 29,000 homes through Help to Buy over the 2014/15 period. It also intends to release HCA land to provide more than 6,000 new homes, although it did not confirm if this was aimed at supporting the government’s Help to Build programme.
HCA’s chief executive Andy Rose said:
“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.”
By David Mote, Editor