HCA meets housing construction target

16 Jun 15

Programmes run by the government’s Homes and Communities Agency supported the construction of nearly 180,000 affordable homes in the four years to the end of March 2015, it has been confirmed.

The HCA yesterday said that a total of 179,170 homes of all tenures were completed through its programmes over the last Spending Review period, above the 170,000 target.

As well as freeing up land for construction of homes, the agency was given a target to meet itself during the four-year period, of building 123,000 through its investment schemes, such as its Affordable Homes grants. This was exceeded by more than 11,000. 

The HCA has also overseen the government’s Help to Buy scheme, which provides equity loans to buyers of new-build properties in an effort to boost construction.

According to the HCA’s latest set of six-monthly housing statistics, 41,312 of the 51,187 homes completed in 2014/15 were deemed “affordable” – that is housing provided at 80% of local market rent.

This is an increase of 50% on the previous year, while the remainder, 9,875, were for sale on the open market, an increase of 45% on the year before.

HCA chief executive Andy Rose said he was pleased the agency had exceeded our completion forecasts across the range of its programmes.

“We look forward to working with the new government to help maintain the momentum in delivering new homes across all tenures, and ultimately, create successful places with homes and jobs.”

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