£130m housing investment for Liverpool

An extra 2000 new homes will be built in Liverpool in the next three years under ambitious plans unveiled by the city council which will see £130m invested in housing.

And there will also be a major drive to bring empty property back into use, the potential introduction of a mortgage scheme to help first-time buyers and the creation of a £20m housing fund.

It means that over the next three years the council will be able to lever in an estimated £130m for new housing developments.

The Housing  Delivery Plan, which covers the period 2012 to 2015,will be considered by the city council’s Cabinet tomorrow (4 November).

The plan aims to improve the quality and range of the housing stock in the city by working with Registered Providers (RP) - previously known as Registered Social Landlords - and private developers. It will involve making council-owned brownfield sites, throughout the city, available for housing at no cost, although RPs would have to enter into some form of clawback agreement in the case of sites which are not ultimately developed.

Councillor Joe Anderson, City Council Leder, said: “This is the biggest investment of this type we have seen for decades.

“When I took over as leader I made it clear that housing was one of my top priorities and this plan will help deliver significant improvements at a time when we are facing real economic challenges.  Not only will our housing stock be improved through this and other building schemes which are taking place in the city, but it will create much-needed jobs and help build sustainable communities.

“We are investing in this area to save. We will be providing housing which will encourage people to stay in the city which boosts its economy.
“But this is not just about social housing, it is a unique opportunity for regeneration and growth which will produce thousands of construction jobs and hundreds of apprenticeships.

“Along with our investment in eight new schools and through the council’s Asset Backed Vehicle,  which allows us to use our land and buildings to attract long-term investment from the private sector and  so stimulate regeneration,  we are looking at around half a billion pounds of investment in the city creating growth and jobs.”

Councillor Ann O’Byrne, cabinet member for housing said: “It makes eminent sense to invest in housing in this way. Over time we can recoup a good part of our investment by the increased income from council tax and through the Government’s new homes bonus.

“It is vital for the city that we provide the type of affordable homes that people want. With the ending of the Housing Market Renewal Initiative programme and the general lack of investment in the housing market we have to find imaginative ways of providing the type of good quality homes people in this city want.

“By releasing sites at no cost, providing a subsidy and working with private developers and registered providers, we will see 2000 new homes built in this city in the next three years on top of the hundreds which are currently being built. We have a waiting list of 18,000 and we will drastically reduce this by providing the types of homes people desperately need.

 “We are also going to tackle the problem of empty homes. There has been some success in reducing the number in recent years but a lot more can be done and we are going to have a dedicated team to deal with this.

“We are also looking to provide help for first-time buyers to get them on the housing ladder.”

As well as the new build proposals, the plan also includes creating a special team to make a concerted effort to deal with empty homes in the city.  The number of empty properties has fallen from 11% of the city’s housing stock in 1998 to 6% last year but it is felt this can be improved by a mixture of persuasion and enforcement action on private owner.

For the mortgage scheme, £3m could be made available to initially help 200 first time buyers, and repayments will be used to help fund further mortgages.

Nick Kavanagh, council’s director for regeneration and employment, said: “This is a prime example of the council working in partnership with the private sector and social housing landlords to improve the quality of housing in the city while developing sustainable regeneration in our communities.”

It is proposed that the plan will be financed through borrowing and by using capital receipts. The council has also bid for £10m of funds through the Housing Market Renewal Transition Fund and could potentially receive revenue from the New Homes Bonus.

source: Liverpool.gov