Plans set out to boost supply of low cost homes
Published by Max Salsbury for 24dash.com in Housing and also in Development
The Housing Forum has put forward a "sweeping set of game changing policies”, aimed at bringing about a step change in the delivery of more low cost homes in London and other high value areas.
In 'Making a Place for Low Cost Housing', the cross industry housing body claims that current mechanisms will fall short of the delivery of homes in all tenures and the delivery of low cost homes will be even harder hit.
Amongst the ’15 for 15’ game changers in the report, there is a call for the creation of a housing investment bank, new development corporations and the creation of an asset class that widens the definition of affordable housing
The report, which will be launched by Lord Best in the House of Lords this week, also calls for greater freedoms to housing associations to set rents.
Mike De’Ath, a partner at HTA Design and chair of The Housing Forum Working Group which authored the report, said: “Although house building is picking up again, we are moving from historically low levels of delivery, at just over 100,000 new homes a year. Of these homes a decreasing proportion is available which is affordable to many.
"The lack of supply is making it difficult for those on low incomes to buy or rent. Unless there is a rebalancing of strategy there will be an exodus of low paid people, including young professionals and service providers away from urban centres. We may well be resetting the foundation stones of future communities and of our towns and cities in high value locations like London."
Shelagh Grant, chief executive of The Housing Forum, added: “The purpose of this report is to make the case for greater political determination to ensure that the delivery low cost housing is seen as a necessary and enduring part of a functioning housing system and highlight the range of options being explored to ensure that genuinely low cost homes continue to be part of the development mix.”