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03 December 2012

Councils unite to attract affordable housing investment

East Midlands Councils (EMC) today launched three high profile initiatives aimed at attracting investment in affordable housing at a ‘Summit’ in Nottingham

Recent research by the Smith Institute has highlighted that the East Midlands is missing out on public funding for affordable housing compared with other parts of England.

In response, East Midlands Councils has today launched three new initiatives aimed at improving investor confidence in both the public and private sectors:

  • A joint ‘Prospectus’ with a number of housing associations setting out the economic and social benefits of investing in affordable housing in the East Midlands; 
  • A ‘Best Practice’ module on the EMC web-site (jointly branded with the Chartered Institute of Housing), showcasing innovative examples of where councils have been able to facilitate the delivery of affordable housing; and  
  • An ‘Affordable Housing Declaration’, demonstrating a high level political commitment by councils to a limited set of key actions aimed at increasing the delivery of affordable housing. Derbyshire Dales District Council became the first authority to sign the declaration at a meeting of its full council on the 22 November 2012 – and many others are expected to follow shortly.

Further details on all three initiatives is available here.

Speaking at today’s Housing Investment Summit in Nottingham, organised by the National Housing Federation, Cllr Lewis Rose, Chair of EMCs Affordable Housing Task & Finish Group said:

Councils and housing associations across the East Midlands have the potential to make a significant contribution to the nation’s affordable housing needs – and at an affordable price.  The three initiatives we are launching today together demonstrate that the East Midlands has a great affordable housing offer, and that with the right support we can make a real difference to people’s lives”   

Cllr Rose added:

“I hope that MPs, housing associations and others with an interest in affordable housing in the East Midlands will use what we have produced to help make the case for investment.”

Notes to Editors

  • East Midlands Councils is the consultative forum for local authorities in the region. It provides support to Councils to improve their services and is a strong voice for the East Midlands.  www.emcouncils.gov.uk
  • Independent research by the Smith Institute (‘Making the most of housing and growth in the East Midlands’, September 2012) highlighted that the East Midlands received only 4.1% of the national pot for affordable housing for the period 2011-15 in the recent national competition - half the proportion received in the previous spending period. This is on top a 50% reduction in the size of the national pot.  As a result, the EM is faced with a 75% reduction in funding for the affordable housing for the period up to 2015.

Contacts

For further information please contact:

Andrew Pritchard

Director of Policy & Infrastructure

East Midlands Councils

Tel: 01664 502421  Mobile 07795 060943

E-mail: andrew.pritchard@emcouncils.gov.uk     

This press release can also be downloaded:

Affordable Housing Press Release 3.12.12

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