Delivery in doubt as HCA land assets drop by £1.1bn

摘要

The Homes and Communities Agency has said that the value of its land assets has fallen by £l.lbn and that it is incurring a £542m charge to reflect the difference in value in its accounts for 2008/2009.rnThe quango's annual report reveals that its property and development holdings has fallen from more than £1.8bn in 2007/08 to £764m in 2008/09.rnThe HCA denied that delivery of affordable homes would be affected by the devaluation andrnsaid it had met housing targets, with 53,843 new and affordable homes completed and work started on 44,472 more during the period. However, affordable home starts would drop by a third next year, it admitted.