Housing statistics published by HCA
The Homes and Communities Agency (HCA) has published its updated housing statistics for the first six months of the new financial year - April to September 2013.According to the government's data, housing starts rose to 12,569 for the H1 period, with 9,970 properties being delivered as part of affordable purchase schemes - a 200 per cent upturn on the number of properties delivered in the same period last year.Meanwhile, affordable rent completions grew by 325 per cent in H1 2013 to 4,569 properties. Furthermore, 5,375 homes were completed as part of the government's ongoing Help to Buy initiative, demonstrating the continuing demand for this project.HCA chief executive Andy Rose said: "Our standard programme profile sees delivery increase in the second half of the year, and as starts on site are up significantly on the same period last year; this puts us in a strong position in building a pipeline of completions for delivery by March 2015."We are currently on track to deliver our contribution to government's aspiration of 170,000 new affordable homes by 2015."It is essential this pace of construction is now maintained, Mr Rose added, as this will ensure the department's partners are able to meet their commitments under the ongoing Affordable Homes Programme.The news follows a recent update from the Department for Communities and Local Government regarding the ongoing Help to Buy mortgage guarantee scheme, with the first month of the new initiative proving it is a popular choice for individuals looking to take the next step up the property ladder.Overall, more than £365 million has been funnelled into the scheme by the government to date and over 2,000 people had signed up for Help to Buy funding by the start of November.With more new homes coming to the market and the government providing additional services to help make homeownership more affordable, the future looks bright at present for a sustained recovery in the UK's housing sector following several years of disillusionment among buyers.
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