The ‘offer’ that meets demand
The local need
The Warwick district area is one of the most attractive and sought after areas to live, visit and work. In pursuit of his popular ‘Warwick Offer’, some customers have been urned away due to lack of affordable housing. Primary and secondary research data supports the need for a step change in the delivery of affordable housing to ensure the ‘Warwick Offer’ can meet the housing demands of a much wider range of customers.
The vision
The purpose of the council is: “To make Warwick district a great place to live, work and visit.”
In pursuit of this vision the council has positively recognised the importance of working in close collaboration with registered providers to attract the necessary competences and resources to deliver its purpose.
The challenge
The disproportionate demand for the ‘Warwick Offer’ is a result of:
> Income inflation not keeping in line with increasing house prices. In 2010 Lower Quartile (LQ) Housing Prices were 8.4 times LQ Annual Wage.
> An increasing housing waiting list.
> Limited housing supply which has met up to 10% of annual need.
The results
The council has entered into a ten year joint venture with Waterloo Housing Group which will:
> Deliver 1,200 new affordable homes.
> Implement a local end to end supply chain beyond traditional local construction apprenticeships to include local advisory services.
> Offer market value for land and enable the council to retain freehold ownership.
> Require a very competitive thin of Homes and Communities Agency (HCA) funding.