Groups to help affordable housing
Updated on 01 December 2008
A body was launched to help the Government continue to deliver affordable housing during the current economic downturn.
The Homes and Communities Agency (HCA) will be the single delivery body responsible for regenerating communities and delivering affordable homes.
A second body, the Tenant Services Authority (TSA), has also been created to help ensure higher housing standards for the UK's eight million social housing tenants and act as a watchdog for the sector.
The two bodies will also focus on taking forward the Government's plans to respond to the current economic downturn, to ensure affordable homes continue to be delivered.
The HCA will look into converting unsold homes into social housing or 'rent to buy' homes in return for housing associations continuing work on schemes that have been mothballed.
It will also look at taking a greater stake in land purchases and housing developments through equity investments and joint ventures, as well as changing the housing mix on developments to include a greater proportion of 'rent to buy' properties.
The TSA will monitor the viability of registered social landlords who are financially exposed as a result of the downturn, as well as offering support to vulnerable organisations.
Housing Minister Margaret Beckett said: "The Home and Communities Agency will be crucial in delivering the new homes and regeneration projects we have pledged. It has a vital role to play in supporting communities and industry in the current economic climate, and will bring together land, money and skills to build more homes and regenerate communities into one single body for the first time."
The creation of the HCA was welcomed by the Royal Institution of Chartered Surveyors. James Rowlands, RICS policy officer, said: "The establishment of the Homes and Communities Agency is a positive step that will help deliver the housing that the country needs and allow Government funding to reach the areas that need it most.
"Current conditions in the housing market present a unique set of challenges and the HCA must be prepared to take difficult action to address these by investing in development sites and moving to a mixed income rather than mixed tenure approach to housing development."
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