More funding for affordable housing in Stockton » Local government » 24dash.com

Housing Associations in partnership with Stockton Borough Council have once again won funding following successful bids for affordable housing.

Round Two brings £2,944,000 and follows hot on the heels of Stockton Council’s allocation in April of £5.6million from the Housing Corporation. This brings the total allocation so far to £8.6million in the first year of this three-year funding regime.

The funding will allow additional accommodation to be built on the existing schemes of Mandale in Thornaby, Parkfield in Stockton and Hardwick to both buy and rent.

Money will also help develop homes at North Shore and across the Borough for vulnerable people, including those with learning disabilities, and young people.

Councillor Steve Nelson, Stockton Council’s Cabinet Member for Housing and Community Safety, said: “This is vital funding to enable Stockton to reach its goals in providing affordable housing in the Borough and help more people to fulfil their dream of living in a new home, whether they rent or buy.

“In today’s current market, it’s well known that it has become more and more difficult for people to put their first foot on the property ladder and these schemes will enable those who would never be able to enter the housing market to do just that.”

The next bidding round results are expected to be announced at the end of August and from September there will be a continuous bidding system to allow quick decisions on funding.

In April Stockton Council launched an ‘Affordable Home Ownership Register’ to ensure new affordable homes for sale are offered to local people unable to enter the housing market.