Building more affordable homes.
Increasing the supply of the right new homes is another of the key priorities for Bromford. Across the UK there’s a housing crisis with over 1.8 million people on waiting lists for a rented home, 81% higher than 1997. And if you’re looking to get your feet on the property ladder it’s equally difficult with house prices at around 6.1 times the average salary.
That’s why last year we invested £50m in building 465 new homes for rent and shared ownership, enabling more of you than ever to open the door to your own home.
But that’s not the full story. Unlike other affordable housing developers, we don’t just want to build new homes at any cost. Importantly we want to ensure that we are building the right homes in the right location for you and we want to make sure that we genuinely add to the supply of new homes. What we mean by this is that many housing associations buy homes off private developers to rent or sell on, but of course these homes are already built – so they are not really adding to the number of new homes available. We’re not ruling this out, but what we’d much rather do is purchase a piece of land that’s in a good position in terms of transport links and community and build our own homes.
You can read more about our plans here
A particular focus for us last year and for the year ahead is building specialist homes for customers with learning disabilities and also retirement living homes for the older people living in our communities. We currently have two retirement living developments underway in Banbury and Stourport, and plan to continue with this programme by building one new development every year. With the options for home ownership, shared ownership and affordable rent for people aged over 55 these two new schemes will not only provide more than 135 new homes, they will create brand new communities where you can flourish.
You can read more about these homes here
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