The Homes and Communities Agency (HCA), working with local authorities, developers and registered providers, has reported a strong year of delivery in 2012/13.
The early assessment of the HCA’s year end figures shows that despite continued challenging market conditions the Agency has met or exceeded its key output targets over the last year.
As well as supporting businesses and jobs by exceeding the target for employment floorspace by over 170% and leveraging nearly £1bn of private sector investment, the Agency also anticipates reporting a strong performance on housing starts and completions.
Through the Get Britain Building programme, helping unlock stalled sites by providing access to investment finance, the HCA had entered into contract on 182 schemes, of which 170 have started on site to provide more than 11,000 homes.
In 2012/13, through its main investment programmes, the HCA:
- Contracted 182 schemes under the Get Britain Building programme, of which 170 have started on site to provide more than 11,000 homes.
- Disposed of enough land for 4,704 homes, against a target of 3,370.
- Created over 322,000 sq m of office, commercial and employment floorspace, supporting new and expanding businesses and jobs, against a target of 185,658 sq m.
- Created or maintained nearly 12,000 jobs in the construction and supporting industries.
- Attracted nearly £1bn of private sector investment into the sector.
- Brought more than 113 ha of previously developed land back into use for housing or commercial development, against a target of 94 ha.
These results will now be audited and formally reported in June. Full details of housing starts and completions cannot be reported until June due to their status as official statistics, however the HCA anticipates reporting a strong performance.
Richard Hill, CEO, said: “Against a tough economic background and with a great deal of challenge and change in the housing sector, the HCA and our partners have again achieved a strong performance and helped get Britain building.
“We are responding to the government’s ambition to release surplus public land into the market to accelerate the development of new homes, and we’ll build on this early success next year through our own programmes and support other government departments with their efforts.
“This all puts us in a strong position for the forthcoming year, and with challenging targets, new programmes and £4.5bn of further investment announced in the Budget, we will continue to need the support of the wider sector in creating successful places with homes and jobs.”
Among the sites unlocked with Get Britain Building investment include Ancoats gateway scheme in Manchester, the Wapping Wharf development in Bristol city centre and Brockholes in Kirklees.
The HCA’s total programme investment for the year was as planned, at £1.39bn.
The results have been delivered through a number of the HCA’s programmes including, Accelerated Land Disposal, Property and Regeneration, Economic Assets and Decent Homes.