The Homes and Communities Agency today revealed it has built more than 50,000 new affordable homes over the past 12 months.
In its results for the year to 31 March 2009 the Homes and Communities Agency said it had hit its target to invest £3.9 billion in its national housing and regeneration programme.
The Homes and Communities Agency built 27,501 rental properties, up from 27,047 the previous year while low cost home ownership properties totalled 19,743, up from 18,865 a year earlier.
The Homes and Communities Agency’s regeneration arm built 6,201 properties within its target range of 6,080 and 6,640 for the year.
Homes and Communities Agency chief executive Sir Bob Kerslake said the results were a massive achievement given the market conditions and the fact the agency was only created on 1 December 2008.
The Homes and Communities Agency was formed through the transfer of the functions and assets of English Partnerships; the investment functions of the Housing Corporation; a number of delivery programmes from Communities and Local Government and the transfer of the Academy for Sustainable Communities.
Sir Bob said: “This is a tremendous result in terms of delivery and spend. We are grateful to all of our partners, RSLs , local authorities and house builders, in particular, for the part they have played in achieving this.
“Our ability to act flexibly and tailor make solutions with our partners has allowed us to unlock the full potential of our budget, benefiting both the industry and communities.
“These results give us confidence in our ability to deliver in the next financial year despite the market.”