Housing - a foot on the ladder of opportunity
We are planning for more than 6,000 new homes over the next ten years - 50 % above the Mayor's targets.
Owning your own home is a natural aspiration. It gives you a greater stake in your community, a greater stake in your own future prosperity and greater choice.
Yet with average prices in the borough well over £450,000, many feel the first rung of the ladder of opportunity is beyond them. Only 1 per cent of homes in the borough out of 79,000 is low cost ownership housing.
We are aiming to make sure 50 per cent of the new homes built are affordable, with the emphasis on home ownership in mixed and sustainable communities.
Read about our victory on housing targets.
Only 44 per cent of people own a stake in their home in H&F, compared to 56% in London as a whole. With the fourth highest property prices in Britain, home ownership is in danger of becoming out of reach to low and middle income families.
This is highlighted by a recent Joseph Rowntree study which pointed out that 75% of working households in the borough were unable to afford to buy at the lowest quarter of house prices.
As well as increasing the number of affordable homes built in the borough, H&F has launched two schemes aimed at helping residents on lower incomes buy a place of their own - the Tenant Incentive Scheme (TIS) and H&F Homebuy.
Decent Neighbourhoods
As part of our Decent Neighbourhoods programme is designed to set out a long-term vision to improve the living environment and to attract significant investment in five key areas of the borough for the benefit of local residents.
We want to break down the barriers that lead to concentrations of deprivation, unemployment and lack of hope by:
Creating more local job opportunities
Ensuring we have mixed income communities with different types of housing
Helping people onto the property ladder through low cost home ownership
Improving transport, public spaces and communal areas
And:
Where new development takes place we want street-style layouts instead of inward-looking estates.
