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Investing in Britain’s future: Deloitte comments on housing measures

27 June 2013

Commenting on the impact for housing beyond the outline figures in yesterday's Spending Review, James Pargeter, head of residential projects at Deloitte Real Estate, said:

“The affordable housing sector had feared that the era of capital subsidy would come to an end in March 2015, so the new three year £3.3bn grant-funding programme for 2015-2018 will be widely welcomed. Although the average rate of grant per unit is to be reduced, the plans do provide a long term vision, which will allow many new developments to be brought forward. However, given the affordable rent terms, it is likely that a number of providers may elect not to participate in the new programme.

“Another notable announcement made by Mark Prisk, Housing Minister, at the Chartered Institute of Housing conference in Manchester, has been that the Homes and Communities Agency will be the default disposer of public sector land from 2015. This should provide the consistency of approach to accelerate the release of brownfield sites for housing.”

End

Notes to editors:

About Deloitte Real Estate
Deloitte Real Estate redefines the concept of a full-service real estate business, offering a breadth of capability and an innovative approach unequalled in the market.

Our team combines traditional property services with financial and business advisory expertise to deliver integrated solutions on the most simple assignment to the most complex. We apply a depth of insight drawn from our understanding of all industries and sectors to advise occupiers, lenders, investors and the public sector on every aspect of real estate in an increasingly complex world.

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

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