West Devon Borough councillors have backed the move of giving those living in rented properties thousands of pounds if they downsize. The aim is to tackle a shortage of affordable housing for families.
The plan is to give tenants who move to a smaller house £1000 plus £500 per bedroom they release. This applies to housing association tenants on assured tenancies and only to those downsizing from a two bed or bigger.
The Devon County Council leader has said there was a housing crisis in Devon as a result of rising house prices and a lack of rental properties.
An example of this plan is a couple wanting to downsize from a 3 bed to a 1 bed would receive £2000.
Head of Tozers’ nationally recognised Affordable Housing team comments: "Whilst this step shows a proactive approach being taken by the Council which mirrors similar moves taken by other councils in the country, it highlights the very serious shortage of affordable homes in the region for local families. It has been recognised for a long time that the prices of homes to purchase and rent in Devon and the West Country is disproportionate to the salaries paid in the region and the latest boom has only increased that. There are various ideas as to how to improve the housing crisis including using new building methods to cut the cost of construction and improving the private rented sector but the most fundamental remains the need to build more genuinely affordable homes for local people."
How can Tozers help?
Our Affordable Housing team have over 25 years’ experience in this sector, forming close working relationships with their housing clients. To find out more about the areas they advise on and their bespoke services please visit their hub page or contact a member of the team.
