Growing numbers are struggling to pay for their homes in Peterborough

Published by Sonia for Cross Keys Homes in Housing and also in Communities

An unsustainable housing market which could see millions more families relying on Government support to pay their rent in the next few years, has led local registered social landlords to fully support the government’s housing stimulus package. 

Home Truths 2012 which has just been published by the National Housing Federation, is a forecast of England’s housing market.  It found that the future of our housing market is looking even bleaker, with both private rental and house prices forecast to rise sharply from 2015.

Social landlords such as Cross Keys Homes are concerned that despite the Government’s efforts to tackle public debt, it is actually spending more on housing benefit.  417,830 more working people, an 86% increase since 2009, are now reliant on housing benefit to help them pay the rising rents on their homes.  And this is increasing by almost 10,000 working people each month.

For this reason Cross Keys homes embraces the government’s decision to provide £10 billion financial guarantees, together with the extra £300 million for affordable and empty homes.  This decision demonstrates the government’s recognition of the key role housing associations play not only in boosting the economy but also in the basic provision of a good home.

Mick Leggett, Chief Executive of Cross Keys Homes, said: “This guarantee and monies will be pivotal to kick starting the local economy.  It will also provide homes for families on the waiting list which currently stands at over 9,000 in Peterborough alone.  But also, following this forecast, it will go a long way to stem the tide of thousands of families each month being forced due to high housing and rental costs to be reliant on housing benefit.  What we need now is rapid access to parcels of public land to start building.  Speed is of the essence.  The country and the people cannot afford to wait much longer.  We need new homes now. ”

Alan Lewin, Chief Executive of Axiom Housing Association, said:  “We welcome the injection of £300 million for the provision of new homes along with the additional guarantees offered by the government for bond finance. We need to work in partnership with housebuilders to deliver these homes on sites already marked for new development along with the freeing up of new sites currently in public ownership.”