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This section explains the Housing Market Renewal Programme, its objectives and how it is being funded.
Housing Market Renewal (HMR) is a programme to rebuild housing markets and communities in parts of the North and the Midlands where demand for housing is relatively weak and where there has been a significant decline in population, dereliction, poor services and poor social conditions as a result.
The HMR programme operates by bringing together groups of local authorities with a 'pathfinder' acting as a delivery vehicle. In 2002, nine such areas were identified by the Government as needing specific housing market renewal support:
In 2005, three areas of low demand were also identified; West Yorkshire, West Cumbria, and Tees Valley.
Between 2002 and 2008, the Government invested around £1.2 billion in the Housing Market Renewal programme, with approximately £1 billion available for 2008-2011. This funding is used to finance capital investment in the housing market and supporting infrastructure that other regeneration programmes have not been able to make on the necessary strategic scale.
HMR partnerships were given a three year budget for the CSR period 2008-11, announced by a Ministerial statement to Parliament on 28 February 2008; this included a final allocation for 2008/9 and indicative allocations for the remainder of the CSR period with a confirmed amount of 90 per cent.
Final allocations for 2009/10 were announced on 10 March 2009; pathfinders were awarded the confirmed 90 per cent funding with a further 10 per cent available based on strong performance. Progress towards meeting criteria set for the additional 10 per cent funding was assessed by the HCA early in July 2009 and Ministers announced the additional ten per cent for all pathfinders on 17 July 2009.
A full allocation of £311m for 2010/11 was announced by Ministers on 23 December 2009.
In addition to market renewal funding, the pathfinders draw on a wide range of other funding streams from local authorities and other public bodies, as well as significant investment from private sector sources.
From 1 December 2008, implementation of the HMR programme has been the responsibility of the Homes and Communities Agency (external link) within a policy framework set by Communities and Local Government.
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