Corporation’s programme delivers 51,095 new affordable homes, nearly 4,000 more than the target
Housing Corporation News Release
Tuesday 22 July 2008 54/08
Corporation’s programme delivers 51,095 new affordable homes, nearly 4,000 more than the target
- Housing Corporation report and accounts 2007-08 published today -
The Housing Corporation’s investment programme has delivered 51,095 new affordable homes, 3,832 more than the target and 25% more than the last year says its annual report and accounts 2007-08 published today (Tuesday 22 July 2008). It also reports that over 69,000 more rented homes now meet the Decent Home Standard.
The report sets out the Corporation’s achievements over the past year, highlights for 2007-08 include:
Continued successful delivery of the 2006-08 investment programme, delivering 51,095 affordable rented homes and exceeding the national output targets for rent and low-cost home ownership by over 3,000;
Achieving the programme's value commitments of a third more homes for only 15% more funds, while raising quality standards;
25% of all rented homes to be three bed or larger;
Despite concerns over the credit crunch, the largest ever draw down of private finance by the housing association sector of over £31 billion;
Best ever CSR settlement of £8.4 billion for the 2008-11 National Affordable Housing Programme (NAHP):
For the first time, successful introduction of local authorities and ALMOs into the investment programme creating a truly mixed economy of providers
An additional 69,005 more housing association homes meeting the Decent Home Standard. Investment in 2007 on planned and major repairs totalled £2.5 billion, an increase of 10% on the previous year;
Housing Corporation expertise contributed to tackling key social policy issues - from chairing the Rural Housing Advisory Group to hosting the Vulnerable People Advisory Group;
The development of the Residents Consultation panel which includes some 1,400 housing association and 1,000 local authority and ALMO residents, providing important information on the views and priorities of residents of social housing.
Housing Corporation Chairman Peter Dixon said, “The past year has been one of the best ever for the Housing Corporation. We exceeded our targets for delivering new affordable homes while staying within budget – meaning that we’ve stretched Government money further to help even more people find a home. This report sets out our achievement over the past year. The successes it outlines – and the stories from residents whose lives have changed for the better – show the legacy we will pass on to our successor agencies in 2008-09."
Housing Corporation Chief Executive Steve Douglas said, “This has been a tremendous year for the Housing Corporation. I am immensely proud of what we have achieved. We set ourselves three main tasks at the start of the year. First, to ensure, working with partners, we delivered our various investment and regulation programmes– we did that. Second, we wanted to ensure that we contributed to, or helped lead the Government’s social agenda on affordable housing– we achieved that to. Thirdly – we wanted to prepare for the new agencies that will take forward our work during the coming year.
“I believe that the Corporation is in great shape to help give both the Tenant Services Authority and the Homes and Communities Agency a flying start in what we know is a tougher market place.”
The Housing Corporation’s annual report and accounts is available on the Corporation website - www.housingcorp.gov.uk
Ends.
For further information, please contact Sandra White on 020 7393 2094.
Notes to Editors
1) Other highlights include:
- 51,095 high quality homes built in sustainable communities, 3,832 more than the target set and up 25% on last year;
- An independent survey found that 80% of the Corporation’s partners think it is effective at a regional level. 96% said they thought the Corporation understood regional issues.
- Despite concerns over the credit crunch, the largest ever draw down of private finance by the housing association sector of over £31 billion;
- The successful launch of two new open market homebuy (OMHB) products to help more key workers, first time buyers and social tenants onto the housing ladder ;
Output targets exceeded for the 2006-08 investment programme, the delivery of the largest affordable housing programme since the mid-1990s, and an unprecedented spending review settlement.
2) The annual report and accounts also includes a series of case studies, illustrating how the Housing Corporation has helped transformed lives.
3) The Housing Corporation is responsible for regulating housing associations, which provide more than two million homes across England.
4) The Housing Corporation is the Government's national affordable homes agency, responsible for investing in new affordable homes and regulating nearly 2,000 housing associations across England. The Corporation's £8.4 billion investment programme for 2008-11 is its biggest ever. Its previous investment programme of £3.9 billion for 2006-08 funded 92,752 homes; 52,929 of these for affordable rent, and 39,823 for affordable sale through the Government's HomeBuy initiatives, helping people to get a foot on the property ladder.
5) The Housing Corporation is working with English Partnerships and Communities and Local Government to establish the proposed Homes and Communities Agency and Tenants Services Authority.
