Home » Land & Developments » HCA approves £450m for 11,700 new and affordable homes

HCA approves £450m for 11,700 new and affordable homes

As a result £207million will now be allocated to directly fund 6618 new and affordable homes. A further £241million could be allocated for 5144 homes, to those schemes which have been approved subject to conditions.

Chief executive of the HCA, Sir Bob Kerslake said: "I am delighted that the HCA has been able to play such a major role in unlocking key housing schemes across the country.

"The due diligence process has been a thorough and challenging one for all involved but I am pleased that so many good schemes have been confirmed. We now look forward to completing the contracts and getting starts on site."

The HCA has also confirmed that it has received more than 660 bids for funding under Kickstart Round 2. These schemes, which could unlock up to 55,000 homes, will now be subject to the same level of scrutiny as the successful schemes under Round 1. 

David Bexon, Managing Director of SmartNewHomes.com, welcomed the investment from the HCA’s Kickstart initiative.

He said: "The latest round of Kickstart funding represents the Government’s first significant investment in the housebuilding industry since the start of the recession. It has belatedly woken up to the importance of housing delivery for long-term socio-economic stability in this country, which is extremely good news for the sector, as well as homebuyers who still face the prospect of a worsening supply shortage.

"While it took an extremely long time to act, we have to give the Government credit for finally putting new development at the top of the housing agenda by injecting funds into the delivery of stalled schemes. We urge the Housing Minister to keep up the momentum set in round one of Kickstart, and guarantee the Government’s long-term commitment to this essential programme. The £500million funding outlined for phase two could unlock up to 55,000 homes, which would offer a major boost to the industry and go a long way to allaying immediate concerns over lack of supply."

Have your say on this story using the comment section below

0 thoughts on “HCA approves £450m for 11,700 new and affordable homes

  1. Major Landlord says:

    Whenever this government interferes in anything, it always makes things worse rather than better. And WE always end up footing the bill.

    Firstly, with economic migrants and temporary immigrants flleeing our shores in droves, and rental stock and existing newbuilds standing empty all over the country – who says we NEED all these newbuilds? Flooding the market with surplus stock will crash the market yet again, and deepen the recesession as more people go into negative equity and the feelgood factor departs forever. (But maybe that’s what this government wants?)

    Secondly, the government should not spend OUR money to subsidise housebuilding when housebuilders themselves have taken the obvious and sensible decision to stop or slow down building untill demand recovers. If the goverment feels these houses are needed, it should either own them once they are built, or take part equity. Otherwise, as with the banks, we will end up paying out and getting nothing in return while they take the profits.

    Lastly, I am filled with horror at the idea that our government is using OUR money to incentivise foreign companies to come into the UK and start buying up large tracts of land and housing. When are they going to stop selling our silver? Look what happened as a result of privatising utilities: now we pay French, German and American companies for our water, gas, electricity and train services.