Affordable housing delivery update
Report of the Strategic Director (Growth and Development) attached
This report provides an update on how the Council and its partners will deliver a minimum of 6,400 affordable homes from April 2015 to March 2025.
The Committee considered a report of the Strategic Director (Growth and Development), which provided an update on how the Council and its partners would deliver a minimum of 6,400 affordable homes from April 2015 to March 2025.
Key points and themes of the repot included:-
· Increasing the delivery of housing (affordable housing in particular) would be a key part of city’s recovery following the Covid-19 pandemic;
· The demand for housing from the most vulnerable in the city had not diminished following the crisis and if anything, the requirements of residents most in need had become even more acute with the numbers of people on the Housing Waiting List and in temporary accommodation continuing to grow;
· The Council was looking to significantly upscale the delivery of new affordable homes and to this end, the existing delivery platforms established with RPs – including use of our land assets – and working in conjunction with Homes England investment programmes remained key;
· The Housing Delivery Vehicle would soon begin to deliver new affordable homes, bolstering the pipeline and helping the city meet and exceed the 6,400-minimum target by 2025; and
· An overview of proposals as to how the Council intended to increase the future supply of Affordable Housing.
Some of the key points that arose from the Committees discussions were:-
· It was felt that the Committee should proactively engage with the proposed pipeline of housing development in terms of its future work programme;
· There was concern that with the impact of the Covid pandemic and increasing financial restraints residents find themselves in, people may still affordable rents and shared ownership out of reach;
· How achievable was the target of 6,400 properties by 2025;
· It was pleasing to see the city centre developments moving forward as part of the housing delivery model;
· Was there an indication on how quickly progress would be made in the delivery of affordable housing; and
· Clarification was sought what was meant by the delivery of the developments would be fully funded through the PWLB via a simple company structure
The Executive Member for Housing and Regeneration agreed that it would be of benefit if Scrutiny kept an oversight on the future delivery of housing development as part of its future work programming. She shared concerns raised around affordability and advised that this was a reason why the Council was looking to establish its own housing delivery vehicle to allow for some flexibility in affordability. It was commented that based on the rate of current development, the Council was projected to surpass its target of 6400 properties by 2025, however, it was acknowledged that the long term impact of the Covid pandemic needed to be taken into account.
The Strategic Director commented that the Council had strong partnerships in the housing sector with Registered Providers that would drive the delivery affordable housing and the Council also had a series pf meetings with Homes England to discuss accessing £12billion of additional government funding for 180,000 affordable homes. She also advised that the Council’s housing strategy was subject to review in October 2021 and a revised strategy would be presented to the Committee.
The Director of Housing and Residential Growth explained that the PWLB, stood for the Public Works Loan Board and the Council was able to borrow money at advantageous rates which would fund some of the developments through a Housing Delivery Vehicle.
(1) Notes the report.
(2) Notes that the Chair will discuss with Officers and the Executive Member for Housing and Regeneration the best way for Scrutiny to monitor the proposed pipeline of housing development in terms of its future work programme.
- Affordable Housing Update, item 4. PDF 257 KB
- Appendicies - Afforable Housing pipeline, item 4. PDF 59 KB