For the first time Bristol City Council is planning to build houses for private sale. The Council aims to reinvest the proceeds of the sales into building more affordable homes.
The proposed development, planned for the Alderman Moores allotments in Ashton Vale, will feature 130 new homes, of which 40 per cent (52) will be social rented council homes. The remaining 78 dwellings will be sold, and the money raised used to fund the building of more council homes.
If successful, the Council hope that this method could become the operating model for their new council housing Delivery Company.
Housing in Bristol has grown steadily more expensive, as the city has enjoyed a boost in reputation as a place to live and do business. In Q3 2016, house price inflation in Bristol stood at 17.18, and the average house price was £268,070.
Marvin Rees, Mayor of Bristol, has made housing and the development of more affordable homes one of his key priorities. He said:
“The shortage of adequate housing is one of the biggest challenges facing the city and one that we are working very hard to address. This is the first time we have used this model of building homes for sale on the open market, and we are hoping this can pave the way for our new housing company to deliver more housing for the whole city.
“We are not just building houses, we are trying to build mixed, balanced communities where people feel they belong.”