13/6/06 Ref: 56/06     

Media Contact: Katy Nicholson 0207 393 2115  and Naomi Evans 020 7393 2118

Housing Corporation leads review of investment in affordable homes

The Housing Corporation today launched a review of investment in affordable homes.

The New Approaches to Investment Review group will consider the lessons learnt from the 2006/08 investment round - its biggest ever – and set the agenda for future investment in affordable homes.

The Review will consider arrangements for managing the Corporation’s investment programmes.  Key issues for the group will include bidding timetables; standards requirements; and compliance arrangements.  The group will take account of the recommendations of the recent review by Sir Les Elton of the burdens on housing providers, as well as experience gained working with a range of new private sector development partners.

The first meeting of its Investment Review Group took place last week, and included senior representatives from the Home Builders Federation; the National Housing Federation; the Building Research Establishment; the Council of Mortgage Lenders; the Department of Communities and Local Government.  Other stakeholders, including English Partnerships will be invited to participate in specific workstreams.

Housing Corporation Deputy Chief Executive Steve Douglas said:

“The 2006/08 affordable housing programme was our biggest ever.  However, we believe that even more can be achieved. The Review will help us to look at how further flexibilities and freedoms may help to speed up supply and improve value for money, whilst maintaining the highest quality standards.”

The review will report in the autumn.

Ends

Notes to editors

1. For more information, please contact Naomi Evans in the Housing Corporation press office: 020 7393 2118.
2. Terms of Reference for the New Approaches to Investment Review Group:
   To assist the Housing Corporation in consideration of its new approach to investment as developed through New Partnerships in Affordable Housing and the National Affordable Housing Programme 2006/08.

To assist the Housing Corporation in development of its system of Investment for the future.

Issues to be considered will include:

- Investment Policy issues;
- Investment Programme Management issues / requirements;
- Compliance arrangements;
- Standards.
 
The review will also look at engagement with the affordable housing sector.
 
Process
The review will be organised by the Housing Corporation. It will be overseen by a Review Group.
 
 The membership of the review group comprises representatives from:
 
- The National Housing Federation;
- The Home Builders Federation;
- Registered Social Landlords
- Housebuilders;
- Other Affordable Housing Providers;
- Building Research Executive;
- Council of Mortgage Lenders;
- The Department of Communities and Local Government.

The review group will meet up for three times and will receive a final report on recommendations.

Timetable
The review will aim to report in Autumn 2006.

New approaches to Investment Review Group Members