HCA programme boosts construction jobs nationwide
In what is sure to be good news for the construction industry, 45 housing development projects that were placed on hold will resume work in 2010 thanks to a new investment by the Home and Communities Agency (HCA).
Hundreds of workers in construction jobs were taken off projects as the effects of the economic recession hit housing developments across the UK. But the HCA aims to get builders, designers and engineers back to work over the next few months with an investment of £153 million into housing jobs across the country.
The investment forms a cornerstone of the HCA's KickStart programme, which claims it will "unlock nearly 4,000 more homes". The agency is a key source of funds for the construction of houses in the UK, boasting an annual investment budget of around £5 billion. This money is mainly focused on the construction of new housing and the regeneration of existing properties.
KickStart's extra funds will bring the total amount of announced investments in new housing for 2010 to a total of £359.9 million.
According to a report made by the BBC, £42m has been allocated to the construction of 700 homes in Devon and Cornwall. 75% of these will be housing association contracts, as the scheme is aimed at creating affordable housing in areas that reportedly boasts average house prices between 12 and 14 times more than annual average incomes for locals.
Sir Bob Kerslake, chief executive for the HCA, said that Kickstart was successfully providing a boost to the industry "at a time of great need".
He said "Getting more than 10,000 homes underway in such a short amount of time has been a great achievement. Many developers are already back to work and momentum is increasing every day."
"We have learnt plenty of lessons from the bidding that we'll be able to use in the next round, helping to speed up and streamline the process".