1. Successful places with homes and jobs A NATIONAL AGENCY WORKING LOCALLY HCA and Affordable Housing Upda te Housing Forum 12 November 2015 Michael Clegg Head of Programmes

2. HCA purpose and vision  Throughout a period of change, our purpose remains to help create successful places with homes and jobs with a core focus on housing supply  Delivering programmes of grant and recoverable investment, making significant contribution to overall supply of homes  Making best use of public land and developing economic assets  Undertaking effective and proportionate regulation of social housing providers  We are a national Agency that works locally –Aligning investment and support with local priorities –Working with partners to deliver

3. –The Affordable Housing Programme 2011/15 delivered 29,000 completions in 14/15, and 135,000 over the programme period, exceeding our target of 123,000 –In addition, 5,764 starts for the Affordable Housing Programme 2015/18 were accelerated into 14/15 –In July almost £900m of allocations were announced for the 2015/18 Programme to provide over 43,000 homes. To September nearly 900 bids have been received under Continuous Market Engagement –Over 1,500 house builders are contracted for the Help to Buy Equity Loan scheme with around c80% being smaller firms. In the first 27 months of the scheme (to 30 June 2015), 56,402 properties were bought. Reservation demand has been sustained in 2015-16 with many builders now taking reservations for legal completion in 2016-17 Delivering affordable housing

4. –Welfare Reform and Work Bill 2015-16 (first reading 28 Oct, Lords): –Lowering the benefits cap to £20,000 (outside London) –Freezing most working-age benefits for two-years from 2016-17 –Removing automatic entitlement to housing support for 18- 21 year olds –Rent reduction: announced at Budget in July, 1% nominal p.a. for 4 years; revised 30 yr BPs requested for 30 Oct. –Reclassification of housing associations in the national accounts: –A statistical change –No change to AHP allocations or CME –Deregulatory package flagged in RTB deal will be expedited. Affordable housing: the changing context

5.  Starter Homes: –20% discount for >40 y.o. FTBs –Housing and Planning Bill provides statutory framework; a duty on LPAs to promote supply  RTB deal –covers 1:1 replacement –moving to implementation  Shared Ownership –changes made to right of pre-emption; potential for further reform? –HCA encouraging CME bids for shared ownership Affordable housing: support for home ownership

6.  Starter Homes; Help to Buy Equity Loans; Shared Ownership – a suite of products.  Spending Review announcement later in November: –A focus on products which meet aspirations to ownership; –VfM (in financing and build) and deliverability will remain central to assessment. Affordable housing: support for home ownership 2

7. homesandcommunities.co.uk gov.uk/government/organisations/homes-and-communities-agency HCA_UK homes-&-communities-agency Keeping in touch