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Tuesday, March 28, 2024

North East Housing Board announces over £200m investment in housing

The North East Housing Board has revealed details of its programme for over £200m of work to revitalise housing in the region over the next two years. Government Ministers have agreed funding for the first year of the two-year £178m programme of large-scale regeneration and housing improvement programmes. They are still considering a further £23m for improving housing in the Tees Valley.

The NEHB advised Ministers how the cash should be spent on the SHIP (Single Housing Investment Pot) programme. Ministers agreed the programme which will help dozens of housing schemes in the North East. The funding will be routed either through local authorities or via the Housing Corporation to Housing Associations and Registered Social Landlords.

The NEHB has been working with local councils over several months to decide how their part of the money, £97m should be split. £36.3 m of this was set aside for getting council houses to a decent standard.

The Government will approve the second year's funding for the local authority money under the SHIP Programme later in 2006. A decision on the extra £23m of cash for Tees Valley, to be spent on renewal in South Bank, Middlesbrough, Hartlepool and Stockton is expected shortly.

The good news this year is that the money is being given to the councils by the Government in the form of a grant. In past years, they have only been given approval to borrow money for this type of housing activity.

The region received more good news recently with Ministers agreeing NEHB suggestions on who should be given priority under the Government's 'First Time Buyers Initiative'. These are in addition to the priority group of key public sector workers identified nationally.

As the North East is different to regions in the south of England, the NEHB feels that households with an annual income of £25,000 or less should be given priority in certain circumstances, including when people are caring for relatives nearby, moving when their house is to be demolished or finding a home when their relationship splits up.



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