At a Cabinet Meeting earlier this month, Havering Council gave approval for a bold scheme. The goal is to create hundreds of new affordable homes in the borough by the middle of the next decade. The project is being hailed as a “landmark proposal”, one that will benefit residents and the local authority. Let’s take a look, then if you want to arrange services like guaranteed rent in Havering, you can call us.
The project
Havering Council will be working in partnership with Inspired Solutions. The housing and supported living specialist focuses on delivering homes for people in need, ensuring they don’t have to deal with a heavy financial burden. All properties here will be available for affordable rents, so they benefit local people.
The plan is to build up to 600 new affordable homes in the borough. They will be in different areas, depending on the availability of sites. Crucially, the agreement gives the council 100% nomination rights for the new homes for 40 years. As a result, they will be able to give them to the most vulnerable people, including local families facing homelessness and key workers.
The estimate is the first phase of the project will begin in the coming years. An initial 71-100 homes will hopefully be available in 2028/2029. Additional phases will take place after that, running for approximately 7 years.
Response
As a top provider of guaranteed rent in Havering as well as other parts of London, we always keep an eye on new project announcements. They can have a big impact on local people, the housing market, and much more.
Havering Council’s affordable housing plan got a lot of support. Natasha Summers, Cabinet Lead for Housing Need in the borough, said it was a “major step forward” and “exactly the kind of bold, long-term strategy our borough needs”. She was glowing at the fact it will deliver hundreds of new high quality homes so they can give families places to live they deserve.
From a financial point of view, this project makes a lot of sense. Most importantly, it will reduce reliance on expensive, typically unsuitable temporary accommodation. It is a huge drain on council finances. However, the first phase of homes alone here have the potential to provide £56m in savings over the 40 years. As a whole, the scheme could provide an astonishing £580m of value.
Notably, this scheme will also help Havering Council towards their wider goals. These include reducing the use of nightly accommodation, tackling homelessness, and improve health and wellbeing in the borough.
Talk to us about guaranteed rent in Havering
It will be worth noting which areas come into discussion for housing developments. The projects could help make locations more popular. Investors should therefore keep an eye out to see if it leads to new opportunities.
If you are considering homes in Havering, or already have assets in the borough, you could benefit from our services. We’re one of the leading names for guaranteed rent in London. This means you can rely on us to offer advice about how it works and the benefits. Additionally, we can help you to prepare properties.
So, get in touch and let us know if you want to try guaranteed rent in Havering or other parts of the capital. We’re always happy to help and make everything as easy as we can.
