Hightown to deliver a record number of affordable homes in 2012

Tuesday 31st January 2012

Developing housing association Hightown Praetorian and Churches is on track to build 581 much needed affordable homes for people in Hertfordshire and Buckinghamshire during 2012. This is more new homes than Hightown has ever delivered in one year.

Demand for good social housing is increasing due to economic factors. A large number of local authorities are seeing homeless numbers growing and private sector rents are rising.

Hightown is working hard to deliver more affordable housing to meet increased demand in Hertfordshire and Buckinghamshire.

Homes for social rent
Over 300 of the new Hightown homes will be let at a social rent to people through the local councils' Choice Based Lettings schemes. Others will be rented at intermediate rents (around 80% of the market rent) or are earmarked for people with support needs.

Approximately one third of the new homes will be available for shared ownership. Shared ownership is an easy and affordable way for first time buyers to buy their own home by purchasing a share in a property (normally around 50%) and paying subsidised rent on the remaining share. Shared owners can buy further shares when they can afford to, until they eventually own the property outright.

New homes in areas with high demand
Nearly 200 of the new homes will be in the Dacorum Borough Council area (Hemel Hempstead, Berkhamsted and Tring) in Hertfordshire, where over 5,800 households are on the waiting list. Almost 150 of the homes will be in Watford, with a further 100 homes in Borehamwood.

David Bogle, Chief Executive of Hightown, said: "I am delighted that Hightown is making such a sizeable contribution to meeting housing needs in Hertfordshire and Buckinghamshire during these difficult economic times."

In addition to the 581 homes to be built during 2012, Hightown has a further 500 affordable homes planned in its development pipeline.

Posted by 0 for Hightown Praetorian & Churches Housing Association Ltd.