Medium Term Financial Strategy (MTFS) 2025/26 - 2029/30

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 Council acknowledges that the scale of new housing development needs to increase. The new government has advised it intends to restore the method used for assessing housing needs and planning for homes This will mean an increase in the annual target from 417 to 909, which would result in a housing target increasing to 18,180 homes in 20 years. The Housing development programme, which was agreed in 2022, aimed to deliver 3,500 in the next five years, based on previous targets, therefore it is likely that this will need to be revised to meet the new Governments agenda. However, the existing programme will be delivered by working with a range of partners, developers, and funders. The housing led regeneration of key places such as High Street South, Felling, Beacon Lough and Chopwell will continue to be a priority.

Both the Housing Development Programme and housing led regeneration priorities and plans will align with the Council's medium-term position and investment plan.

The Housing Revenue Account (HRA) Business Plan and associated Asset Management Strategy ensures affordable 5 and 30 year financial and investment plans. The plan makes a significant contribution to the Housing Development Programme, with a planned HRA funded development programme of 400 new homes over the next 10 years. The HRA Business Plan has also been refreshed to ensure it continues to be financially viable and investment is affordable.