HCA welcomes affordable housing investment
The Homes and Communities Agency (HCA) has welcomed the government's announcement that it is to spend millions of pounds on the delivery of new affordable housing up and down the country over the years ahead.
As part of this week's Comprehensive Spending Review, chief Secretary to the Treasury Danny Alexander published the Investing in Britain's Future initiative - a scheme designed to promote greater activity in the building sector and significantly boost the economy into a state of sustained recovery.
It includes the provision of £957 million in both 2015/16 to 2017/18 for the Affordable Homes Programme, as well as additional funding of £150 million for Enterprise Zones and an £102 million to go towards speeding up the delivery of large-scale projects.
Moreover, £160 million has been pledged to the Decent Homes Backlog Programme - a scheme designed to make living accommodation across the UK fit for purpose for those living in sub-standard homes.
Andy Rose, chief executive of the HCA, said: "The commitment of £3.3 billion for affordable housing to build 165,000 new affordable homes reflects the government's confidence in the sector and the HCA; as well as housing's role in driving economic growth.
"This is core business for us and we are ready to work with our partners to deliver these new homes."
Earlier this month, the HCA also unveiled a new £91 million investment in the transformation of thousands of derelict properties up and down the UK, bringing much-needed homes back into full-time use in a bid to tackle the ongoing housing crisis.
Making the announcement, communities minister Dan Foster stated: "We have already made very good progress, cutting the number of long-term empty homes by 40,000 but with thousands of people in this country desperate to buy a home."
It is hoped this latest investment will help to bring up to 6,000 formerly derelict buildings back into a habitable state.
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