Havering Council has secured £23.985million in funding aimed at increasing affordable housing in the borough.
This significant investment will enable the Council to purchase additional council homes, addressing the urgent need for quality family-sized housing in our community.
The Council Homes Acquisition Programmefunding is part of a broader Greater London Authority (GLA) new initiative announced in 2023 to tackle the housing crisis.
The programme is designed to provide safe, secure and affordable homes for families, individuals and vulnerable groups within the borough.
It will allow the Council to add the funding to the existing HRA business plan and budget, and use that combined funding to acquire properties that meet the needs of our residents.
The objective will be to add 160 family-sized homes to the existing Housing portfolio, and we are already on target to reach the 45 homes by the end of this financial year (31 March 2025).
The remaining 115 homes must be acquired by 31 March 2026.
Councillor Paul McGeary, Cabinet Lead for Housing and Property said:
“This funding is a game-changer for Havering to help us to use external funding along with our existing Housing Revenue Account (HRA) allocated budget to help accelerate the creation of genuinely affordable homes for local people.
“It will allow us to make acquisitions from ex-Council homes that were sold via Right to Buy, private properties, completed new build properties or off-plan new builds to help bolster our housing supply.
“We are dedicated to providing our residents with the homes they deserve, and this programme is a crucial step towards achieving that goal.
"Everyone should have access to a safe and affordable place to live.”
If you own a property (ex-Council or private) that you are looking to sell please visit the buybacks webpage.