Manchester City Council has approved a new plan to create between 1,000 and 2,000 affordable homes per year.
The housing affordability framework, which was approved by the council’s executive this week, sets out the city’s plan to provide housing for those below the average household income for the city.
To provide the homes, the council says it will work with public and private sector partners to make use of funding streams such as the government’s National Productivity Investment Fund (NPIF), and will take advantage of the relaxation of restrictions around grant funding for affordable homes.
It will also utilise Manchester’s Housing Affordability Fund, alongside other types of investment using council land, assets and borrowing power, where appropriate.
The strategy covers a range of tenures including social housing, affordable rent properties, shared ownership or shared equity, and rent to purchase homes.
The council now says it will replace social housing lost through right to buy and demolitions, maintaining social housing at the current figure of around 70,000.
In the last five years, 2,721 homes were built through the city’s Affordable Homes Programme. Yet during the same period 1,800 affordable homes were lost through demolition, Right to Buy and Right to Acquire – leaving a net gain of 921 new affordable homes.
Bernard Priest, deputy leader of Manchester City Council, said: “Manchester is leading the way to ensure the city can deliver decent and secure housing that meets the needs of residents that are below the average income for the city.
“Decent housing shouldn’t be a luxury. It should be something that everyone in Manchester can enjoy. We intend to make sure up to 2,000 homes a year are built that are decent, secure and affordable.”
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