News
Time for change in affordable housing
Thursday 5 April 2007
Co-Ownership Housing has welcomed recommendations from the Review into Affordable Housing (Semple Report), published today. The Report endorses many of Co-Ownership’s key proposals on its future role and activities in a changing housing market, made as part of the Review’s consultation process.
Commenting on the Semple Report, Alan Crowe, Chief Executive of Co-Ownership Housing, says “We are delighted with the very positive approach taken to enhancing the role of Co-Ownership, and believe that implementing these would ensure many more local people get onto the property ladder with our tried and tested route.”
“We strongly endorse the recommendations to scrap the current property value limits system and move to a more flexible approach that matches people to properties on an affordability basis.“
“We also very much welcome the recommendations to allow lower starter shares for Co-Ownership and lower monthly rent charges. These two elements combined will bring a lot more people into the property market by helping to tackle the impact of rising house prices.”
“There is a long list of valuable Co-Ownership initiatives in the Report. To highlight a few at this stage – helping to build and deliver more affordable new homes, becoming more involved with existing home owners in financial difficulty, and helping Co-Ownership home owners to afford an increased share in their homes.”
“Overall, we congratulate Sir John on his comprehensive Report. Alongside a commitment from government to fund the increased range and level of Co-Ownership activity, we are hopeful that the policy changes, when accepted, will empower us to move forward and diversify our services, securing the maximum number of properties for the maximum number of households.”
“There’s a lot of work ahead to shape and change local affordable housing provision. We are keen to continue our work with everyone concerned. As a first step in this we have produced a briefing paper on the key points coming out of the Affordability Review as they relate to Co-Ownership.”
The briefing paper, Under New Management, and further information is also available on request direct from nicha@co-ownership.org or by phone from Communications at 9032 7276.
