Housing in Greater Manchester: current issues, or… What are AGMA up to? Steve Fyfe Housing Strategy Manager, AGMA Planning & Housing Commission.

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Presentation transcript:

Housing in Greater Manchester: current issues, or… What are AGMA up to? Steve Fyfe Housing Strategy Manager, AGMA Planning & Housing Commission

House price to income

Headlines

Completion rates

The housing challenge Greater Manchester Annual household growth of 10,730 - Indigenous population growth - New jobs attract new people New House building dropped - High of 13,000 in 2007/8 - Around 3,000 in last year ( ↓ 75%) Half of newbuild relied on public £ Nationally Constrained development & mortgage finance Drop in public investment Role of cities on growth understood Outside SE and London, GM is in best position to meet growth targets

Support growth of working households Impact on labour market mobility Impact on productivity Impact on business competitiveness Jobs and enterprise The supply side

GM principles developed with RP input Local Investment Agreement in place AHP Forum coordinating work on Empty Homes, Tenancy Strategies etc Programme to end March 2015, aim to deliver maximum value and attract additional funds from HCA Affordable Homes Programme

Round 1 bid successful £5.1 million to help deliver 461 units 18 delivery partners involved – details unclear! Round 2 ‘clusters’ bid Expression of interest yesterday Bid by the end of April Empty homes

Low Carbon Domestic Retrofit Aim to install 10,000 loft & cavity wall measures per year - over double the current level of activity ALL residents/ private tenants free access to loft and cavity wall insulation worth around £700, regardless of age/income etc British Gas Utility funders, managed by the Energy Savings Trust for AGMA Residents can phone EST free phone number on or book a referral on

Looking for institutional investment in new housing Building on Manchester pilot Bringing publicly owned sites together as a package New development for private rent, but mix of other tenure choices Blending returns from higher and lower value sites to enable investment in both & deliver scale GM ‘Housing Investment Fund’ proposition

Ensuring a pipeline of sites - Potential for deferred receipts/income on LA land - Widening scope to other sites where the value of development can be captured Matching up with other funding models & strategies to multiply impact/reduce risks Recycling funds within GM to maximise delivery & impact Procurement/partnership potential? GM ‘Housing Investment Fund’ proposition

Growing Places Fund, ERDF, Regional Growth Fund, Evergreen (JESSICA) Fund Plus recycling proceeds of investment Identify and promote pipeline of projects ‘Call for projects’ event 1 March, deadline end March Economic development, housing, low carbon, transport, broadband, business growth GM Investment Fund

‘Oldham Mortgage’ as the trailblazer in GM All ten districts considering LAMS Possible bid to the GM Investment Fund for funds to match district input Should complement Government NewBuy scheme when that arrives Local Authority Mortgage Scheme (LAMS)

Contact: Steve Fyfe Housing Strategy Manager