In its first year of operation, the Homes and Communities Agency (HCA) has met its key targets, including delivery of over 53,000 new and affordable homes and the investment of £3.9bn through its Programmes, despite operating within severely depressed financial and housing markets.

The Agency's Annual Report and Financial Statements for 2008-09, set out the key achievements for the HCA and its predecessor bodies over the 12 month reporting period ending 31 March 2009.

These include:

• Completion of 53,843 new and affordable homes for rent or sale (30,820 during the first four months of HCA operation)
• Starts on site with 44,472 new and affordable homes for rent or sale (30,837 during the first four months of HCA operation)
• Reclamation of 327 hectares of brownfield land
• Creation of 450,487 square metres of employment floorspace
• Attracted £1.035bn of private sector investment

Well over half the HCA's outputs across all categories were achieved during the first four months of operation, including 58% of affordable housing completions and 69% of affordable housing starts on site.


HCA Chief Executive, Sir Bob Kerslake said: "Overall this has been a year of considerable achievement and despite tough operating conditions, this Report shows that the HCA has delivered in all of its key areas during its first months of operation.

"This year and next will be equally challenging but we will continue to deliver against our targets, identify new funding streams and new ways of working, and maximise the impact of every pound of public money we invest."

(CD/GK)