Tuesday 5 December 2006
High demand for key worker homes

Families on low incomes will be able to show the red card to rising property prices thanks to a major new development.

Leading affordable housing provider bpha has announced that it will build 176 affordable homes in the first phase of Loves Farm, St Neots - a development of 1,250 homes, which will also include a new primary school and new ground for St Neots Town FC.

bpha's homes, being built in part on the former football ground, will comprise a mix of rented accommodation for local people on the waiting list, and shared ownership properties to help people get a foot on the property ladder.

In the first phase a total of 114 homes will be made available for rent, with the remainder being offered through a shared ownership scheme known as New Build HomeBuy, which offers homes on a part-buy, part-rent basis.

Further affordable homes will be released in the next two phases.

The first homes are being funded by bpha together with a £660,835 grant from the Housing Corporation. Accommodation will range from one-bedroom apartments to five-bedroom family homes.

The development will provide a welcome boost to households struggling against rising house prices in the area. A recent report by the National Housing Federation revealed that the average price of a property in Cambridgeshire is now £200,564 - more than eight times the average salary in the area.

The report also suggests that by 2011 the average house price in the area will rise to £285,000, around 40 per cent higher than it is today.

David Keeling, executive director of development bpha, said: "We are delighted to be providing new affordable homes on this major local plan site in Huntingdonshire. As house prices continue to rise, more and more people are struggling both to rent and get that all-important first foot on the property ladder.

"This is particularly true in Cambridgeshire, which is among the most expensive places to live in the country.  We are working in close partnership with the district council to help them meet their local housing needs, and these homes will provide a much-needed boost in the provision of affordable housing."

bpha is working at Loves Farm in partnership with developer Gallaghers Estates Ltd. David Keyse of Gallagher Estates Ltd said: "This is an exciting new development, which will provide a mix of homes for affordable rent, shared ownership and private sale to create a truly sustainable new community.

"We are pleased to be working alongside bpha, which has a strong track record of developing and managing affordable homes and creating places where people are proud to live.

"As well as providing a new primary school to serve the development, we are also creating a new, improved ground for St Neots FC, which will include an all weather training pitch and changing rooms. The scheme is bound to stimulate lots of interest - both on and off the pitch!"

bpha is one of the leading providers of high-quality affordable housing in Cambridgeshire and, as the Government-appointed HomeBuy agent for the county, also provides a one-stop-shop housing service for key workers and other households on low incomes.

It is currently working in partnership with Papworth Trust, King's Street Housing Trust, PFP (Places for People), South Cambridgeshire District Council and Cambridge City Council to provide 282 affordable homes at the new Arbury Park scheme to the north of Cambridge city.

bpha has also applied for planning permission to start work on the first new affordable homes to be built in St Ives for 10 years.

Ian Bates, leader of the council at Huntingdonshire District Council, said: "We are delighted that housing provider bpha will be working on such a large development of affordable housing at Loves Farm.

"There is a need for more affordable homes in the area, both for families to rent and for first time buyers. The development will significantly increase affordable housing as part of the Government's plans to build new homes for the next generation."

Work is expected to start on the new affordable homes at Loves Farm in summer 2007.
If you would like to find out more about shared ownership properties in Cambrigeshire, please contact bpha's sales and marketing team, Keyhomes East on 0845  4566757 or visit www.keyhomes-east.org.uk.