New company to help tackle city's housing crisis

A report discussed at Housing Scrutiny Committee last week introduced the lettings and rent policy to be used by the new housing company, indicating that it will buy 23 market sale properties at two new-build council housing developments, in Water Lane and Aylesborough Close, which are due to be completed in March.

The properties will then be managed by Town Hall Lettings, the social lettings agency established by the council along with partners in 2014 to provide good quality accommodation across Cambridgeshire, for households that the market would not otherwise be able to provide for.

The council agreed to set up a housing company last July as a pilot project with the objectives of helping tackle the severe lack of affordable homes in Cambridge, and generating income for the council.

It will let properties at rents below the average market level, in order to address the need for housing among people in the city who cannot afford to buy or rent good quality housing on the open market, but who currently also do not have priority to rent existing social housing.

To be eligible for housing owned by the new housing company, applicants will need to meet certain criteria such as the proportion of their income or savings which they have available to pay for housing.

To meet its objectives, the housing company will set rents at 80% of rents in the upper quarter of the current market.

At October 2015 levels, this would mean that the properties would generally be affordable for households with annual incomes of £24,000 or above.

At the same meeting of the Housing Scrutiny Committee, a report outlined plans for social lettings agency Town Hall Lettings after its pilot period comes to an end in April.

The not-for-profit agency was established in January 2014 with other district councils in Cambridgeshire, to provide good quality accommodation at more affordable rates.

It does this by matching local landlords with people in need of a good home, reducing the risk to landlords through measures such as guaranteeing rents and vetting tenants, and reducing costs to tenants through measures such as lower management fees.

The report highlighted how Town Hall Lettings plans to expand its work in the coming years by managing the supply of homes owned by the new housing company, and properties identified through the council’s empty homes strategy.

Cllr Kevin Price, Executive Councillor for Housing, said: “The new housing company and the expansion of our social lettings agency will enable the council to start addressing the chronic shortage of affordable housing in Cambridge.

“Despite the government’s introduction of legislation which have seriously affected our efforts to build more council housing, we are determined to find new and creative ways – such as the new housing company and expanding the scope of Town Hall lettings – to help people who call Cambridge home to continue being able to live in their own city. We look forward to the first tenants moving in later this year.”


Reports presented to council committees are available on the council’s website.

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Contacts


Cllr Kevin Price, (Labour Group) Executive Councillor for Housing,
 email kevin.price@cambridge.gov.uk, tel: 07964 280689

Cllr Nick Avery (Liberal Democrat Group), Opposition spokesperson,
 email: nick.avery@cambridge.gov.uk, tel: 07798 802215

Cllr Marie-Louise Holland (Minorities Group), Opposition spokesperson,
 email: marie-louise.holland@cambridge.gov.uk, tel: 01223 564126

Liz Bisset, Director of Customer and Community Services, email: liz.bisset@cambridge.gov.uk, tel: 01223 457801

Alan Carter, Head of Strategic Housing, email: alan.carter@cambridge.gov.uk,
 tel: 01223 457948

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