More than 53,000 new homes and £3.9bn of investment were the key targets achieved by the Homes and Communities Agency (HCA) in the year to 31 March, 2009.

The HCA and its predecessor bodies English Partnerships and the Housing Corporation also reclaimed 327 ha of brownfield land, developed 450,487 sq m of commercial space and attracted £1.03bn of private sector investment.

Speaking following today’s publication of the HCA’s financial report for 2008-09, chief executive Sir Bob Kerslake, said the agency has delivered in all of its key areas during its first months of operation despite tough economic conditions.

The HCA was formed in December last year and immediately accelerated the programmes of English Partnerships and the Housing Corporation, partly by bringing forward investment budgeted for future years. The new agency’s net expenditure for the year was £4.3bn.

Kerslake said:: “This year and next will be equally challenging but we will continue to deliver against our targets, identify new funding streams and new ways of

working, and maximise the impact of every pound of public money we invest.”