|The last local housing market assessment recommended a long-term target, to help balance the housing market, by achieving a suitable mix of affordable housing types of 45% social rented and 55% intermediate housing. This is to reflect the volume of existing and emerging households who can afford more than social rents, but cannot afford to rent privately or to purchase a home. The proportion of intermediate tenure on the affordable housing stock list is currently very low.|
Affordable housing is provided to eligible households whose needs are not met by the market. Eligibility is determined with regard to local incomes and local house prices. Affordable housing should include provisions to remain at an affordable price for future eligible households or for the subsidy to be recycled for alternative affordable housing provision.
Social rented housing, usually owned and managed by housing associations, is provided at substantially lower than open market rents. Guideline target rents are determined through the national rent regime. There are currently just over 11,000 social rented dwellings in Herefordshire.
Affordable rented housing, usually owned and managed by housing associations, is not subject to the national rent regime but is provided at rents that are higher than existing social rent levels, and up to 80% of local market rents (including service charges, where applicable). There is currently a very limited supply of affordable rented housing in Herefordshire.
Intermediate housing are homes for sale and rent provided at a cost above social rent, but below market levels subject to the criteria in the Affordable Housing definition above. These can include shared ownership, shared equity, government HomeBuy and Low Cost Market schemes, but not affordable rented housing.
Herefordshire Council commissioned GL HEARN Property consultants to undertake a Local Housing Market Assessment (LHMA), published in 2013, to identify the future housing need and demand across Herefordshire. An estimate of the future need for social and intermediate housing was made using information about the incomes of households with a housing need and the supply of properties. These estimates are shown in Table 1 below for areas around the county.
Table 1. Estimated level of housing need (2012-2017) by intermediate, social/affordable rented housing (percentages).
Source: Herefordshire Local Housing Market Assessment. GL Hearn Property Consultants. (Nov 2013)
Last updated: Thursday, April 19, 2018