New fund will mean more affordable homes
Posted: Friday 21st September 2018
I’m pleased to say that earlier this week the Council Executive passed the Affordable Housing Fund, designed to stimulate the development of more homes and marking an important step in tackling the current crisis in this area. The fund involves an initial investment of £1.5m, with another £2m in the pipeline and prioritises social housing, with other forms of affordable housing supported by exception only.
Registered providers will be able to bid for funds from this pot to deliver social housing in development schemes, and I'm especially pleased that we will guarantee that any units delivered with support from the Fund will be allocated to those on our housing waiting list.
I believe it’s essential that we take positive action to address the significant issues that our Borough faces, illustrated by high average house prices, high monthly rents and only 5% of total affordable homes in Greater Manchester.
The housing crisis isn’t actually about homes – it’s about people, and the lack of affordable homes impacts on many individuals and families in Trafford. We want to ensure all Trafford residents have realistic option available to them, at a price they can afford, whether that be a mortgage, or renting privately or via social housing providers. This is one of our top priorities as a Council at the moment and please be assured we are taking this issue very seriously.