The NAO published their report Financial viability of the social housing sector: introducing the Affordable Homes Programme today, reviewing the programme managed by the Homes and Communities Agency (HCA).
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The NAO praised the success of the launch of the programme to deliver 80,000 homes for £1.8bn of investment – more than 24,000 than the original estimate – as well as setting out recommendations to help implement the programme.
Deputy Chief Executive Richard Hill said: "We welcome the NAO’s assessment and recommendations on the programme, which has made an excellent start in building much-needed affordable housing.
"We have now agreed contracts with almost 90% of providers* – who have responded well to the challenge of the new Affordable Rent model – covering allocations of around £1.7bn. Work is already underway on sites across the country, and the programme is on track to deliver the government’s aspiration for 80,000 new affordable homes by 2015."
(CD)
