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

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 case for housing: supporting growth  Construction contributes around 8% of 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

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%

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

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

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

How we’re getting schemes moving  Fundamental building blocks:  Identifying priorities – Land and planning  Pipeline of schemes – Finance and viability  Sticking to plans for the long – Capacity to deliver term  Investment and brokering  We all have a role to play

No ‘silver bullet’ Wide range of measures to support projects Market interventions: Affordable housing:  Loan  Grant  Guarantees  Equity  Land  Assisted purchase Land: Economic growth:  Build now pay later  Loan  Loan  Equity  Equity  Grant  Grant  Land  Time needed to prepare  Crosses economic and for investment political cycles

South West success: Bath Riverside

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

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

Closing points  Housing, land and construction  Take a long-term approach drivers of economic growth  Delivery is key to South West’s  Investment and brokering success

Keeping in touch  homesandcommunities.co.uk  // /HCA_UK  /homes-&-communities-agency