Hackney Council is taking heed from other local authorities in the capital to help create more affordable homes in the Borough. They are planning to become a property developer, setting up a local housing company that will be focused on delivering homes. It will operate under regulations and with finances designed to enable building.
The creation of the housing company was first discussed at the end of March. A further scrutiny meeting was held at the start of April to further discuss the strategy. It is believed that the company could be set up and in operation by the end of 2017.
The early estimate is that the housing company will lead to the creation of up to 3,000 new homes within the next ten years. Many of these would be designated for affordable rent to help ease the current housing crisis and increase the social housing stock in the Borough.
Hackney has become a very popular area over the last few years. The population has risen by 55,000 since 2011 and will exceed 300,000 within the next decade. This puts even more pressure on housing and work is needed now to prevent huge issues in the near future. Creating new homes will help a great deal.
At Finefair we have seen firsthand just how popular Hackney has become over the last years. The reasons behind the growth are people are looking for areas with more affordable prices whilst offering good locations, transport links, and local amenities. Hackney fits the bill.
As a leading provider of block management in Hackney we work closely with landlords who want to have their properties managed to a professional standard. We provide comprehensive services and have witnessed just how high demand is for homes when we are called on to handle marketing and tenant selection.
We hope the Council’s new housing company will have a positive impact on the area and help to satisfy the high demand. It would help to further improve the image of Hackney.