QUANTUM BACKS CALL FOR THOUSANDS MORE HOMES

An affordable housing consortium is adding its voice to calls on the Government to build thousands of new homes as an economic stimulus.

The Quantum Consortium is backing the newly-formed 2020 Group which says there is an urgent need for 100,000 new affordable homes to rent over the next two years.

The consortium of social landlords consists of three developing members – East Midlands Housing (lead investment partner), Derwent Living and Futures Housing Group - together with four partner members - Advance Housing Association, Foundation HA, Rockingham Forest HA and Wellingborough Homes. It came together to develop homes for social rent and shared ownership in the east midlands.

The 2020 Group, which is made up of the National Housing Federation (NHF), housing charity Shelter, the Local Government Association (LGA) and the Trades Union Congress (TUC), says its recommendations will:

• Save 30,000 jobs in the industry, as well as thousands which support the industry, including in building materials, furniture and white goods
  
• Preserve construction jobs and apprenticeships which would help prevent a loss of key skills
  
• Enable house builders to continue to invest in housing supply and reduce the risk of a housing supply shortage once the economy recovers
  
• Improve cash-flow and reduce risk for developers and suppliers currently experiencing severe financial pressure
  
• Increase labour market mobility by providing more affordable and social housing.

“Quantum fully supports the recommendations of the 2020 Group and would urge the Government to recognise the potential for economic revival that exists in building social housing.

“It’s not just about creating jobs for construction workers but the whole local employment chain from carpet fitters and gas engineers to furniture and electrical stores,” said Jim Patman, Development Director at EMH, Quantum’s lead investment partner.

Paul Casey, Development Director at Derwent Living, said: “We would also urge banks to resume lending to first time buyers to kick start the property market and to businesses to help job security. We welcome Northern Rock’s announcement that it is to resume lending but the other financial institutions must follow suit.”

Quantum manages more than 30,000 homes across the Midlands and beyond and was launched to deliver affordable housing schemes, follow the principles of good development and share skills, knowledge and best practice.

Quantum is one of just 108 organisations across the country, which has been selected to deliver the Homes and Communities Agency’s affordable housing programme.

EMH won an Affordable Housing Scheme of the Year for a scheme at Hill Court, Bushby, in Leicestershire.