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Buying homes to meet ambitious development target

Plans to deliver around 160 extra affordable homes for the city by buying property from the open market are well on track, as part of the Council's goal of 1,000 new council homes by 2022.


A report to be considered by Cabinet at its next meeting on September 26 reveals that the Council are making good progress towards achieving the target of purchasing 160  properties, with 44 homes bought since 2017 and a further 11 deals in the pipeline awaiting completion.


There is currently high demand in all areas of the city for two, three and four-bedroom family homes and accessible flats, but very little availability. More than 7,700 applicants are currently on the city's housing waiting list, but last year, only 1,500 properties became available for letting.


The Council is buying homes from the residential property market to help deliver its ambition of 1,000 new affordable homes by 2022, and 2,000 new homes in total in the following years. Other delivery routes include the Cardiff Living scheme with Wates Residential, package deals, and the Council's own additional build programme.


Cabinet Member for Housing and Communities, Cllr Lynda Thorne, said: "We are actively pursuing opportunities to buy properties off the open market as we work towards delivering more homes to meet increasing demand in the city. More often than not, the properties are ex-council homes but we can also consider buying other homes if they appropriate to meet housing need.


"We are making very good progress with the buyback scheme which together with our other delivery methods are significantly boosting the amount of good quality, affordable housing in Cardiff."


Cabinet is recommended to approve the delegation of authority for the purchase of residential property to the Corporate Director for People and Communities on September 26.