Lib Dems Plan More Homes for Rent (Milton Keynes Liberal Democrats)

Milton Keynes Liberal Democrats <info@mk-libdems.co.uk>

Lib Dems Plan More Homes for Rent

June 23, 2007 9:29 AM

Milton Keynes' Liberal Democrat Cabinet has agreed a new policy that will ensure there are more affordable homes to rent in Milton Keynes.

The new "Affordable Housing Supplementary Planning Document" (SPD) clearly states that the Council will seek a total of 30% of all new-build homes to be affordable. Within this, 25% will be for social rent and the remaining 5% will be affordable homes to buy e.g. shared ownership.

The massive increase from 5% to 25% for rented homes was prompted by the dramatic findings of an in depth study of housing needs in Milton Keynes. The findings included:

• by 2003 the price of an average property in MK was over 6.3 times average earnings

• from 1999 to early 2006 the average house price in MK rose by 136%

• in 2005 less than 10% of properties were sold for £80,000 which is around the maximum available to single first time buyers.

• rents for the cheapest properties in the private sector cost at least double the amount of council or housing association properties.

The study concluded that the amount of social rented housing needs to increase dramatically from the current 5% to meet the needs of low income families.

Liberal Democrat councillor Irene Henderson, whose cabinet portfolio includes housing, said: "The report clearly demonstrated what Lib Dems have suspected for some time. Housing is far too expensive for too many people in Milton Keynes. The need for affordable housing, especially good quality rented housing, has never been greater. It is the only realistic way that young people, the homeless and many young families on low incomes can ever hope to be housed. What this study does is to provide us with a firm basis to make sure that house builders and developers provide the affordable homes that are so desperately needed.

"Providing affordable homes is a top priority for the Lib Dem-run Council. That is why we are going argue for the maximum rental properties. To do less would be failing too many people who need a roof over their heads so that developers can turn a greater profit. We also need the Government to recognise the size of our problem and invest in affordable homes in MK - something they have not done for a number of years."