Housing development

For many years, house prices and rents in the UK have grown faster than average incomes. This has led to an increasing need for affordable housing and it is only since 2006/07 that the development of new affordable housing in England has outstripped the sale of social housing to tenants under the Right to Buy scheme. These factors have resulted in growing waiting lists for social housing.

Although house prices in Rushcliffe declined somewhat in 2008 and 2009, this was not as pronounced as movement seen in the rest of the country, and most of that value has now been recovered. Only a few houses in the Borough are likely to cost less now than they did in 2007. What has changed is that mortgages are now often harder to obtain, with most lenders requiring much larger deposits – an average of 23% in February 2011. This means that many people cannot get onto the property ladder. The average monthly rent for a privately rented property in Rushcliffe is £575, which is higher than surrounding areas and contributes to the need for affordable housing. We work with developers and housing associations (also known as Registered Providers of Social Housing), to assess and meet the local need for affordable housing.

Affordable homes and future schemes - from 2007 – 2011, we helped ensure that 197 new affordable homes were built, either for rent or HomeBuy. We hope another 50 homes will be built during 2011/12.

Rural homes - As a largely rural area, we make sure that affordable housing is built in the countryside where there is a housing need. This helps local people to stay in their communities and allows those communities to thrive.

What is affordable housing?

The national definition of affordable housing is set out in Planning Policy Statement 3, which was reissued in June 2011 to reflect the introduction of the new Affordable Rent model.

“Affordable housing includes social rented, affordable rented and intermediate housing, provided to eligible households whose needs are not met by the market. Affordable housing should:

– Meet the needs of eligible households including availability at a cost low enough for them to afford, determined with regard to local incomes and local house prices.

– Include provision for the home to remain at an affordable price for future eligible households or, if these restrictions are lifted, for the subsidy to be recycled for alternative affordable housing provision.”

The three types of affordable housing are:

Social rent – rents are set in accordance with a national formula, and are well below market levels in most areas
Affordable Rent – rents are set at 80% of the market rent for a similar property in the area
Intermediate housing – this covers shared ownership, HomeBuy and other models designed to help people purchase or part-purchase a home where they would not otherwise be able to get on the property ladder.

How do we deliver affordable housing?

We require all new housing developments above a certain size to provide some affordable housing. On developments of 15 or more homes, or which are 0.5 hectares or larger, we require 30% of homes to be affordable. We have carried out research into the costs and returns of development, and we use a well-respected “viability toolkit” model, which shows that the 30% figure should be achievable by all developers, and will not discourage housing investment.

Where in the Borough is affordable housing developed?

There is a high level of demand for affordable housing in West Bridgford, and in six other larger settlements: Bingham, Cotgrave, East Leake, Keyworth, Radcliffe on Trent and Ruddington.

However, it is vital to ensure that people can continue to live in our villages and that affordable homes are available for people who need them. There is not a need for new affordable housing in every village in Rushcliffe, but you can find out more about our programme on our Rural Housing Needs page.

How do I apply for affordable housing?

Rushcliffe transferred all of its council homes in 2003, so all affordable housing is owned by housing associations, the largest being Metropolitan (Spirita).

All social housing in Rushcliffe is now advertised on the Homesearch website, our Choice Based Lettings scheme.

If you are interested in intermediate housing (e.g. shared ownership) and need assistance to get on the property ladder, then contact EMHomeBuy, who process all applications for these properties and act as a “one stop shop” for affordable home ownership in the East Midlands.