New timetable for Affordable Homes Programme
The Homes and Communities Agency (HCA) has set out a new timetable for delivery of the government's Affordable Homes Programme.Announced in June, the initiative is set to come into operation from April 2015 and will aim to deliver the bulk of the government's target for the construction of 165,000 affordable homes up and down the country between 2015 and 2018.Commenting at the National Housing Federation Annual Conference in Birmingham this week (September 18th), chief executive of the HCA Andy Rose said ensuring the provision of more homes for those currently struggling to get a foot on to the UK property ladder remains one of the HCA's top priorities.Furthermore, construction is one of the most important areas of the UK economy in terms of helping to deliver a sustained recovery.It is therefore extremely positive news that the lead-in details for the Affordable Homes Programme have been set, with bidding guidance to be released by the HCA by the end of the year and a deadline for bids for funding to be submitted by mid-2014.IT forms part of a multi-billion pound effort from the government to tackle the ongoing UK housing crisis, with many analysts now suggesting a failure to deliver more homes could result in the creation of a new housing bubble - with prices being artificially inflated and made unaffordable for the majority as demand continues to rise but the supply of new homes fails to keep up.Housing minister Mark Prisk added: "The government has worked hard to help the housing market through one of its toughest times. Over the past three years we’ve delivered over 330,000 new homes, including 150,000 affordable homes."Housing supply is now at its highest level since the end of the unsustainable housing boom in 2008, and the rate of affordable house building will soon be at the highest level for two decades."
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