Issue - meetings

Report of the Cabinet Member Housing

RESOLVED THAT:

1.    The Shared Ownership Sales policy be approved;

2.    The Shared Ownership Staircasing policy be approved;

3.    Authority be delegated to the Lead Commissioner Housing Services, in consultation with the Cabinet Member Housing, to make necessary changes to the current policy in order to comply with government guidance until the policy is subject to a full review in three years’ time.

The Cabinet Member Housing introduced the report and drew attention to its key points. It was important to make it easier for people to purchase their own homes, and various mechanisms were in place to make this easier. Shared ownership arrangements tended to range from 25% to 75% ownership, and were generally 45% in Cheltenham, while the rent criteria on unsold equity was 2.75%. He noted that the third recommendation allowed for amendments to the policy to be made if the government changed anything to do with it before the full policy was up for review in three years’ time.

The Cabinet Member Climate Emergency described the policy as an important step, noting that Cheltenham was not an affordable place to live. In a difficult housing market it was important to make a difference, especially for young people and families who were struggling to buy a home or afford to rent.

The Cabinet Member Cyber and Strategic Transport added that the need for affordable housing would only grow larger considering the council’s future projects. Home ownership was becoming more difficult and these initiatives make a difference. The Cabinet Member Finance and Assets agreed that it was important to use every tool available to make homes more affordable and accessible.

The Cabinet Member Housing thanked members for their contributions. He added that 27 affordable homes at Monkscroft Villas, some of which were shared ownership, had been snapped up very quickly, demonstrating the demand for housing in the town.

The Leader moved to a vote, where it was unanimously:

RESOLVED THAT:

1.    The Shared Ownership Sales policy be approved;

2.    The Shared Ownership Staircasing policy be approved;

3.    Authority be delegated to the Lead Commissioner Housing Services, in consultation with the Cabinet Member Housing, to make necessary changes to the current policy in order to comply with government guidance until the policy is subject to a full review in three years’ time.