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Affordable Homes contracts top £1bn

The Homes and Communities Agency has now signed contracts under the Affordable Homes Programme worth over £1 billion.

The news came as a further £52 million of contracts were signed with registered providers this week.

In all £1.8bn of contracts are due to be signed.

The latest providers to sign with the HCA include Affinity Sutton, the Guinness Trust and London and Quadrant Housing Trust.

Some 74 contracts have now be signed.

The £1bn signed so far is expected to deliver 61,145 affordable homes across the country by March 2015.

The largest contracts agreed so far include £89m with Sanctuary Housing Group, £65m with Affinity Sutton, £58m with Notting Hill Housing Trust, £52m with the Guinness Trust, £46m with Orbit, £40m Great Places Housing Group, £39m with Midland Heart, £38m with Swan Housing Association, £33m with Catalyst Housing, £33m with Network Housing Group and £30m with Accord.

HCA chief executive Pat Ritchie said:  “This important milestone shows that appetite for building new homes is far from diminished, despite the challenges presented by the current economic climate.

“We will continue to work with and support providers to maintain the momentum generated by the Affordable Homes Programme, delivering much-needed affordable homes and boosting local economies in the process.  We are well on track to see the majority of contracts signed by the end of this year.”

Collectively, it is expected that the Affordable Homes Programme will deliver up to 80,000 new affordable homes by 2015.

For a full breakdown of the contracts signed this week, see the file attached.

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