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NHF calls for 'radical ways' to fund new affordable homes
Mon 24 May 2010
The National Housing Federation (NHF) has called on housing associations to come up with innovative ways of funding the creation of new affordable homes.
According to David Orr, chief executive of the body, the house building industry has a "tremendous track record" of creativity and innovation at times of major change.
He stated that the sector will be required to demonstrate these qualities again as it learns to cope with a new operating environment.
The NHF has already highlighted a number of possible options relating to how new affordable homes could be funded by housing associations.
This includes issuing shares on the commercial parts of their operations and attracting investment from pension funds.
Meanwhile, the Chartered Institute of Housing (CIH) has welcomed the new government's housing policies, which it described as "ambitious".
The organisation said the programme of reforms outlined by the Conservatives and the Liberal Democrats give local government and communities a much greater role.
Keith Jenkins, a senior partner at Winckworth Sherwood Solicitors, commented: "Paradoxically it (the lack of grants) could be a good thing for associations.
"If the government is no longer paying for its tunes, associations could be free to play what they know their customers want."
