"As Homes England, we will use our land, finance and expertise to expand the delivery of affordable new homes and connect ambitious partners to remove barriers to house building."
Housing Secretary Sajid Javid says Homes England will "play a major role in fixing the housing market" and will develop a new commercial approach to acquiring, preparing, managing and developing land in areas of high demand and strategic importance.
The Agency will focus on supporting smaller house builders into the market and resourcing brownfield sites across the country to deliver more homes.
The agency has already supported developments including 10,000 new homes on a brownfield site northwest of Cambridge and a 3,200 new homes site in South Yorkshire.
Housing Secretary Sajid Javid said: "This government is determined to build the homes our country needs and help more people get on the housing ladder. Homes England will be at the heart of leading this effort.
"The development at Alconbury is a prime example of how the agency has worked to deliver thousands of new homes, as well as improve roads and create space for local businesses.
"The new agency will be key in replicating this approach right across the country and will help us build a Britain fit for the future."
Nick Walkley, Chief Executive of Homes England, said: "As Homes England, we will use our land, finance and expertise to expand the delivery of affordable new homes and connect ambitious partners to remove barriers to house building."
Sir Ed Lister, Chairman of Homes England, added: "We will take the lead in delivering better quality homes and great places that set the bar high for others. We will also stimulate demand for Modern Methods of Construction and ultimately disrupt the housing market."