Housing and regeneration quango the Homes & Communities Agency (HCA) has committed to deliver more than 160,000 new affordable homes over the next four years, according to its new corporate plan.
The targets, set out in the HCA's corporate plan for 2011-15, show that the agency will aim to deliver an average of 35,000 new affordable homes per year for the first three years of the spending review period, rising to 45,000 in 2014/15.
An additional 10,452 homes for sale will be provided through its FirstBuy scheme, which is designed to help first time buyers.
The target will meet around 95 per cent of the Government's aspiration for 170,000 new affordable homes by 2015, the HCA said.
HCA chief executive Pat Ritchie said: "We have set challenging targets – particularly in delivering the bulk of Government's ambition for 170,000 new affordable homes – backed by a strong enabling offer centred on commercial expertise and specialist advice.
"The key to our success will be our commitment to localism. We will put local authorities and communities in the lead, to deliver what they want, how they want and where they want."