Levelling Up Home Building Fund

Rating: The SRO Delivery Confidence Assessment (DCA) rating at 25/26 Q4 remained at Green. Most funding has been committed, with enough headroom to support projects that need further investment. Delivery is on track to meet or exceed the c.54,000 homes target, with revised forecasts increasing expected delivery to around 69,000 homes. This reflects strong progress in securing new commitments during 2025/26.

Schedule: There has been no change to the schedule for the programme.

Cost: The WLC remains unchanged, despite the need for some reprofiling across financial years.

Source: NISTA Major Projects Annual Report 2025-26 (data)

Rating: Compared to financial year 23/24-Q4, the Infrastructure Project Authority's Delivery Confidence Assessment rating at 24/25-Q4 increased from AMBER to GREEN. This is primarily due to the following factors‚ The approval of the revised Business Case and extension of the fund at the end of 2024, has allowed for commitments to continue through to the end of March 2026 which is expected will allow for the full fund to be committed and subsequently delivered. The aim is for the full programme allocation to be drawn down and the expectation that the new homes targets will be achieved or exceeded - and the new target brings expected supported delivery up to 54k homes. Performance from 24/25 (with stabler economic & development landscape conditions) and in signing new commitments has enabled significant progress towards meeting final forecasts.

Schedule: Compared to financial year 23/24-Q4, the project's end-date at 24/25-Q4 increased from 31/03/2031 to 31/03/2032. This is primarily due to the following factors‚ The approval of the revised Business Case and extension of the fund at the end of 2024, has allowed for commitments to continue through to the end of March 2026 which will allow for the full fund to be committed and subsequently delivered. The additional period for deployment reflects challenging market conditions and lower sector activity between 2022 and 2024.

Cost: Compared to financial year 23/24-Q4, the project's departmentally agreed Whole Life Cost at 24/25-Q4 (measured in £m) decreased from 2206 to 2076. This is primarily due to the following factors‚ The approval of the revised Business Case. The whole life costs are expected to be lower than originally forecast - but given the impacts of the private sector capital leveraged by the HBF, this reduced spend is still set deliver the forecasted outputs.

Source: NISTA Annual Report 2024-25 (data)

Rating: Compared to financial year 22/23-Q4, the Senior Responsible Owner's Delivery Confidence Assessment rating at 23/24-Q4 remained at Amber. This is primarily due to the following factors. As at March 24: We continue to assess the delivery confidence of the programme as amber.

Schedule: Compared to financial year 22/23-Q4, the project's end-date at 23/24-Q4 remained schedule to finish on 2031-03-31. This is primarily due to the following factors. As at March 24: The project's end-date is March 2031.

Cost: Compared to financial year 22/23-Q4, the project's departmental-agree Whole Life Cost at 23/24-Q4 remained at 2206m. This is primarily due to the following factors. Whole Life Costs have not changed

Source: IPA Annual Report 2023-24 (data)