Affordable rent dwellings are the principal product of the Homes and Communities Agency's 2011-15 Affordable Homes Programme. The indicator shows the average agreed grant for each affordable rent dwelling funded by the HCA as stated within the original agreed offer.
How the figure is calculated:
The figure is calculated as the total grant agreed by the HCA for affordable rent dwellings divided by the number of HCA Affordable Rent dwellings. The start date is as of 1 October 2011 under the agreed offers.
Why is this indicator in the business plan?
The payment per dwelling represents the capital cost to Government of the supply of new affordable rent homes and will indicate the level of consistency with the rate of funding agreed with providers at the onset of the 2011-15 Programme.
How often is it updated
Data is updated quarterly.
Where does the data come from?
The Homes and Communities Agency collect this information through its Investment Management System.
What area does the headline figure cover?
England except for the area covered by the Greater London Authority (GLA).
Are further breakdowns of the data available?
The HCA publish figures by HCA operating area.
What does a change in this indicator show?
The payment per dwelling should be consistent with the rate of funding agreed with providers at the onset of the 2011-15 Programme.
Approximately 8 weeks after end of 3-month period, broadly in line with HCA National Housing Statistics publication.
Next available update
Type of Data
Robustness and data limitations
The indicator applies to Affordable Rent dwellings under the 2011-2015 Affordable Homes Programme. It excludes committed units from the previous programme. Based on provider offers and following negotiation and agreement of a framework contract, a rate for new HCA funding per Affordable Rent unit is agreed for each provider, in the majority of cases is paid 50% at start on site and 50% on completion (on a results basis). A provider's agreed rate of funding for each home completed will apply for the duration of the contract where delivery is largely in line with the assumptions in the initial framework contract. The HCA Investment Management System contains information provided by investment partners and so viewed as the most reliable source of data. From April 2012, the Mayor of London has had oversight of strategic housing, regeneration and economic development in London. This indicator refers only to grant payments by the HCA. The figure will include a small element of grant payments for social rent dwellings and a small proportion of acquisitions.