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Government launches new national housing agency

19/01/18


Housing Secretary Sajid Javid has announced a new national housing agency that he hopes will be a step forward in tackling the UK’s housing shortfall.

Homes England will be a driving force for change within the housing sector and act as a successor to the Homes and Communities Agency.

By the mid-2020s, the Government anticipates that Homes England will have played an important role in the development of around 300,000 homes a year.

Homes England will be given new land buying powers, enabling it to resource brownfield sites for family homes and provide greater support to innovative house builders trying to enter the market.

Mr Javid believes the new agency will play a huge role in helping more people get onto the housing ladder and in turn create a Britain that is fit for the future.

Since 2010, the Government has managed to build 1.1 million homes, and Help to Buy has provided valuable support to more than 255,000 people looking to purchase a property.

Nick Walkley, Chief Executive of Homes England, said: “As Homes England, we will use our land, finance and expertise to expand the delivery of affordable new homes and connect ambitious partners to remove barriers to house building.”

Government funding is already being used to build 5,000 more homes in Alconbury, Cambridgeshire on a 1,420-acre site and around 3,200 new ones on a site in South Yorkshire.

Urban&Civic – a property developer – is set to receive a loan of just over £45 million from Homes England, via the Home Building Fund, in order to speed up the development of around 4,500 homes.

There is £1 billion in the Home Building Fund available for short term projects, while £2 billion has been allocated for long term infrastructure developments.

For more information on our third sector and housing practice, please visit our practice page.

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