Fewer social homes to be built in 2010

No less than a third fewer social homes will be built next year, according to the Homes and Communities Agency (HCA), after its development budget was cut by £1.1 billion, as a direct consequence of the recent housing crash.

The number of completed new homes will increase in 2010 as 61,500 new flats and new houses will be finished, up from 55,625 completed new homes in 2009. This comes as a direct consequence of government funding after Prime Minister Gordon Brown announced in June that an extra £1.5 billion would be made available for new homes.

However, the extra funding will only create a temporary increase in grant-funded construction of new homes. In fact, fewer than 30,000 new home builds are scheduled for 2010/11, which is 34% lower than the 45,500 new homes target set for 2009/10.

Sir Bob Kerslake, HCA’s chief executive, said: “Overall this has been a year of considerable achievement and despite tough operating conditions, the HCA has delivered in all of its key areas during its first months of operation.

“This year and next will be equally challenging but we will continue to deliver against our targets, identify new funding streams and new ways of working, and maximise the impact of every pound of public money we invest.”

View New Homes

View Affordable Homes

Return to Homepage

Return to Property News