A NATIONAL Development in the AGENCY South West WORKING LOCALLY - - PowerPoint PPT Presentation

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A NATIONAL Development in the AGENCY South West WORKING LOCALLY - - PowerPoint PPT Presentation

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Successful places with homes and jobs A NATIONAL Development in the AGENCY South West WORKING LOCALLY Colin Molton Executive Director, South and South West Homes and Communities Agency CIH South West Housing Conference 2 April 2014 The

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Successful places with homes and jobs

A NATIONAL AGENCY WORKING LOCALLY Development in the South West

Colin Molton Executive Director, South and South West Homes and Communities Agency CIH South West Housing Conference 2 April 2014

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The case for housing: supporting growth

  • Construction contributes around 8%
  • f GDP: housing accounts for 3%
  • It is estimated that one construction

job supports 0.78 elsewhere

  • For every £1m of housing output, 20

workers are needed for a year

  • For every £1m of housing repairs and

maintenance, 31 jobs are supported

  • CBI and British Chambers of

Commerce say action to build new homes will create jobs and make housing affordable

Source: DCLG / BBC

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Government support for housing: Autumn Statement / Spending Round

  • Good settlements
  • Housing positioned alongside

infrastructure as driver of economic growth

  • Autumn Statement: £1bn extra for large

scale housing sites

  • Spending Round 2015/16:

– £2.9bn Affordable Homes Programme, launched in January 2014 – £400m Rent to Buy scheme – £202m for Local Infrastructure Fund (EZ and large sites) – £160m Decent Homes Backlog – Guideline rent limit of CPI +1%

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Government support for housing: Budget 2014

  • Significant new investment to support

more than 200,000 new homes

  • £6bn four year extension to Help to

Buy equity loan scheme to support a further 120,000 households

  • £500m Builders’ Finance Fund to

provide loans to SME developers

  • £150m loan fund to support the

regeneration of housing estates

  • ‘Right to Build’ to give custom builders

right to buy plots from councils

  • A prospectus seeking expressions of

interest for locally-led garden cities will be published by Easter

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Government support for housing: developing public land

  • Bringing public land to market

to drive housing growth

  • HCA to handle surplus public

sector land from 2015

  • Scope for £5bn in receipts to

support local economies

  • Our land development and

disposal plan: sites for 14,000 new homes by 2015

  • Additional £290m announced

in Autumn Statement

  • Commercial expertise and

complex development experience

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Another strong year of delivery

  • Strong performance on housing

starts and completions

  • On track to deliver our share of the

target of 170,000 affordable homes by 2015

  • Thousands of new and affordable

homes completed in South West

  • Attracted more than £150m of

private sector investment

  • Created more than 13,000 sq m of

employment floor space

  • Partners’ support is key to this

performance

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How we’re getting schemes moving

  • Fundamental building blocks:

– Land and planning – Finance and viability – Capacity to deliver

  • Investment and brokering
  • Identifying priorities
  • Pipeline of schemes
  • Sticking to plans for the long

term

  • We all have a role to play
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No ‘silver bullet’

Affordable housing:

  • Grant
  • Guarantees
  • Assisted purchase

Market interventions:

  • Loan
  • Equity
  • Land

Economic growth:

  • Loan
  • Equity
  • Grant
  • Land

Land:

  • Build now pay later
  • Loan
  • Equity
  • Grant

Wide range of measures to support projects

  • Time needed to prepare

for investment

  • Crosses economic and

political cycles

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South West success: Bath Riverside

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Bath Riverside

  • 2,000 homes and 3,000 jobs
  • First phase complete
  • Part of City of Ideas

Enterprise Area

  • Supported by a range of

measures:

  • £6m National Affordable

Housing Programme and £2m infrastructure in phase one

  • £2.8m Get Britain Building

investment in phase two

  • Help to Buy across site
  • Local authority, LEP and

former RDA support

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South West success: Millbay, Plymouth

  • Key element in Plymouth’s ambitions to be seen as one of Europe's finest

waterfront cities

  • New marina, hundreds of new and affordable homes and commercial space
  • New academy underway and East Quay infrastructure progressing
  • More than £15m HCA investment in infrastructure, utilities and homes
  • Around £4.5m infrastructure funding in new marina walls and wave gates
  • £6m investment in new and affordable homes via range of programmes
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Closing points

  • Housing, land and construction

drivers of economic growth

  • Investment and brokering
  • Take a long-term approach
  • Delivery is key to South West’s

success

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Keeping in touch

  • homesandcommunities.co.uk
  • // /HCA_UK
  • /homes-&-communities-agency