Medium Term Financial Strategy (MTFS) 2022/23- 2026/27
Appendix 2 - housing
The Council's Housing Strategy recognises that the future success of Gateshead is dependent on ensuring that all its different neighbourhoods thrive and are great places to live and visit. This requires the right mix of safe and secure housing that people can afford, together with good schools, parks, sports and cultural facilities, roads and transport links, and streets and public spaces free of litter and anti-social behaviour. This will be brought together in the development of the next Gateshead Local Plan which is currently underway
The housing pipeline is continuing to deliver new homes across Gateshead, with 333 new homes completed in 2020/21. The Council recognises that the scale of new housing development needs to increase. A new Residential Growth Strategy is currently being developed that will confirm the priority actions to be undertaken over the next 5 years to maximise additional housing supply on existing and new sites, and to bring long term empty homes back into use. This strategy will also align with the Council's medium-term position and investment plan.
The recently completed Housing Review of all its housing functions and responsibilities has resulted in the re-integration of the management and maintenance of its 18,500 homes back into the Council, and the closure of its housing ALMO (The Gateshead Housing Company). A major review of the HRA Business Plan and associated Asset Management Strategy has ensured 5 and 30 year financial and investment plans moving forward. Known income and expenditure has been considered alongside key assumptions in relation to borrowing and debt repayment, right to buy receipts, operational performance, and efficiencies. The revised HRA Business Plan confirms the priority given to ensuring the Council's homes are safe and fully compliant with building legislation and regulation. It will also make a significant contribution to the Residential Growth Strategy, with a planned HRA funded development programme of 400 new homes over the next 10 years.