New affordable housing deals announced

05-Nov-2007

Housing minister Yvette Cooper has announced that key workers and first time buyers could be set to benefit from a new scheme aimed at giving more power to local authorities.

The latest in a series of government plans and funding initiatives designed at helping first time buyers and increasing the supply of affordable housing will see Local Housing Companies (LHCs) help bring more land forward for development.

Under the scheme councils will be able to offer their own unique deals for those who need it most in the region, and will now be able to oversee the how land is developed rather than leaving such decisions solely in the hands of the private sector.

Shared equity deals will be among those able to be more easily provided by councils as part of the new plans.

"We urgently need to build more homes for first time buyers and families," said Ms Cooper.

"That's why we are investing £10.2 billion to increase affordable and social housing. But government cannot deliver this alone.

"This is a new way to help councils to do their bit to support new homes for key workers and families in their areas," the housing minister added.

"This is an idea that has real potential. Councils can bring their local expertise and land holdings to the table, while housing associations can match this with their capacity to build high quality, sustainable homes. It's a win-win situation for local communities," said National Housing Federation chief executive David Orr.

Mr Orr added, however, that more should be done to encourage councils to release surplus land for social housing projects.

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