By Richard Johnstone | 27 January 2014
Housing minister Kris Hopkins today set out a plan to support the construction of 165,000 homes over three years under the Homes and Communities Agency’s Affordable Homes Programme.
Inviting bids for the £1.7bn scheme, Hopkins said the government would achieve the fastest rate of affordable housebuilding for 20 years between 2015 and 2018, supporting 165,000 construction jobs.
In total, it is expected that private investment will lead to the HCA programme being worth around £23bn over the three years.
Hopkins said housebuilding was already at its highest level since 2007, and construction orders were increasing at the fastest rate for 10 years.
He added: ‘Housebuilding is an essential part of this government’s long-term economic plan. That’s why we have designed an ambitious new scheme to build affordable homes at the fastest rate for 20 years.’
Under the scheme, which builds upon the current 2011-15 Affordable Homes Programme, housing associations applying for funding will need to focus on delivering the types of homes in short supply in their local area. In many communities, this could mean building more one- and two-bedroom homes so smaller households can move to more suitably sized accommodation, the Department for Communities and Local Government stated.
HCA chief executive Andy Rose said the details of the programme had been published as early as possible to ‘ensure delivery can start from day one’.
He added: ‘We are continually looking at ways of maximising the number of new affordable homes for the funding invested, and secure early delivery.’ The deadline for funding bids is April 30.
