Update on ALMO New Build

The government has started to discuss further details of the National Affordable Housing Programme (NAHP) for April 2011 – 2015. Not all of the details are clear yet and the HCA is due to publish its prospectus for the next new build programme at the end of January 2011. The HCA has confirmed that from April 2011, the NAHP will not include any funding for social rent. Instead it will only consist of the new "affordable rent" product that was announced as part of the spending review and Low Cost Home Ownership (LCHO) if it can be shown to deliver as good value for money as the new "affordable rent" product. The model that the HCA are currently looking at is based on registered providers letting all new homes developed at the new “affordable rent”. There is also an expectation that a percentage of voids in their existing stock would be re-let at the new "affordable rent" in order to help cross subsidise the development of new "affordable rented" homes. This briefing updates members on discussions so far with the HCA and the NFA’s concerns regarding the ability of ALMOs to participate in the next development round. Download the briefing from the NFA website.