Homes England maps out plan to double its output by 2030
Collaboration with local leaders, greater funding flexibility, and efforts to encourage more institutional investment into the housing sector are hallmarks of the agency’s five-year strategic plan, which aims to help government towards its ambitious 1.5m homes target.
Published yesterday, Homes England’s five-year strategic plan formalises much of the agency’s recent messaging around taking a more interventionist and place-based approach to housing delivery.
Homes England estimates that by following the new strategic plan, the number of homes it unlocks annually could increase from 40,000 in 2025/26 to more than 80,000 by 2029/30.
Armed with £46bn, Homes England will do this by offering long-term, flexible funding, supporting planning reforms, and working closely with local leaders including mayors on their priority projects.
The National Housing Bank, a subsidiary of Homes England due to go live in April, is a key part of this plan to increase institutional investment into the housing sector.
The bank will offer debt, equity, and guarantees to support the delivery of homes and make schemes more attractive to investors.
Efforts to unlock the flow of capital into housing can already be evidenced though partnerships like Habiko – a JV between Muse, PIC, and the agency – and the recently announced partnership Homes England has established with Capital&Centric and Swiss Life.
Read the five-year strategy in full
Housing Secretary Steve Reed said: “Homes England is playing a key role in building more new homes by bringing in essential private investment and supporting the biggest boost to social and affordable housing in a generation.
“The launch of their new plan kicks off a new phase of working together to invest in housebuilding at scale that will help us bring the housing crisis to an end.”
Pat Ritchie, chair of Homes England, said the plan “marks the start of a new chapter of strengthened collaboration, innovation, and delivery at scale”.
She said: “Through partnership and a deep understanding of local needs, we can create a much-needed step change in the delivery of new homes, including social housing, and affordable communities– directly addressing the needs of current and future generations and ensuring everyone can have a safe place to live and thrive.”
Related Articles
Why are politician’s so deluded, either they don’t know what their brief actually is and how to execute it, or they are “could”, “bold initiative” “reform” etc. horses? If the current Housing Secretary actually believes he can build 1.5 m homes by 2030, I can answer the question posed above – deluded. On a lighter note, what are those stupid red baseball caps in aid of?
I must also say I was a little disappointed about 3 weeks ago when we had a similar call for joy and all the my ex fellow professional’s (I have retired) expressed the belief and support for the proposed planning changes and how it will make building easier – its not my belief or their belief in private either.
With regard to housing challenge, we need to tackle the real problem, but will this make house prices come down, not that much so that wages will have caught up to house prices to even 10 years ago affordability.
The whole system is too fragmented and needs a root and branch overall.
The final point is where are all the trades people and materials coming from, you cannot get enough labour now to build what we are doing now.
By Steve5839
Red Beanie hats – I knew he had no class – but!!!!
By Old and Cynical
It’s great news that Homes England are getting more funding and intend to double outputs, however they will need to overcome their inbuilt bureaucracy slowing down the whole process. For the regions to still have to go cap in hand to Homes England London office to get funding approved is outdated nonsense. Homes England budget should be devolved to the regional mayors to distribute to affordable housing providers, this will be quicker and better targeted.
By Anonymous
Do not build new homes on our precious green fields and farmland. It is a tragic and unforgivable desecration.
By Anonymous
I see this as a big solution to the causes of the housing crisis outlined in the Barker report and Michael Goves reports.The cartels control and their massive land banks need breaking.Those of us with land to sell for social and affordable see the realities alongside the pain of homeless folks and housing poverty.
By Colin Bass.
From some of the comments below it’s clear many people don’t understand the role and functions of Homes England.
By Anonymous