Housing and GrowthHousing and Growth

Society of District Council TreasurersSociety of District Council Treasurers

5 Dec 20085 Dec 2008

Sally Marshall Dacorum Borough Sally Marshall Dacorum Borough CouncilCouncil

Housing & the economic Housing & the economic crisiscrisis

Crisis in Housing MarketCrisis in Housing Market Short Term impactShort Term impact

Risk to housing growth targets?Risk to housing growth targets? Empty or partly developed homes?Empty or partly developed homes? Increase in homelessness/benefit take-upIncrease in homelessness/benefit take-up

Possible longer term impact?Possible longer term impact? Loss of developer supply chainLoss of developer supply chain Continued housing shortageContinued housing shortage Impact on wider economyImpact on wider economy

Empty/Partly Developed/Empty/Partly Developed/Undeveloped HomesUndeveloped Homes

Slowing or stalling developmentSlowing or stalling development Impact on s106 contributionsImpact on s106 contributions Off plan – investment propertiesOff plan – investment properties

10% deposit based on higher value10% deposit based on higher value Balance payable but property lower Balance payable but property lower

valuevalue ForeclosuresForeclosures

Help at Hand?Help at Hand? £1bn Housing Package£1bn Housing Package Homes & Community AgencyHomes & Community Agency Opportunity for LA investment?Opportunity for LA investment?

Investment ReturnsInvestment Returns Interim MarketInterim Market Future sale of properties Future sale of properties Help develop stability in local housing Help develop stability in local housing

marketmarket Strategic Housing Role for LAsStrategic Housing Role for LAs Any other freedoms or powers needed?Any other freedoms or powers needed?

Check list of what’s newCheck list of what’s new Housing & Regeneration Act 2008 Housing & Regeneration Act 2008 £1bn package for Housing£1bn package for Housing Strategic Housing Role for LAsStrategic Housing Role for LAs Mortgage RescueMortgage Rescue Homes & Communities AgencyHomes & Communities Agency Tenant Services AgencyTenant Services Agency Supporting People Grant – unringfencedSupporting People Grant – unringfenced Housing & Planning Delivery Grant Housing & Planning Delivery Grant

announcementannouncement Housing Subsidy Determination Housing Subsidy Determination

consultationconsultation

What’s on the horizon?What’s on the horizon?

Growth funding announcementGrowth funding announcement

Short notice inspections - Housing PilotShort notice inspections - Housing Pilot

LA Mortgages or Indemnities? LA Mortgages or Indemnities?

Outcome of HRA and Subsidy ReviewOutcome of HRA and Subsidy Review