Development in Test Valley
Housing affordability is a real issue for many people, with an average house price in Test Valley of £290,205(Oct-Dec 2012) compared to £272,283 for the regional average. The lower priced houses are typically 10 times the annual income of people earning a lower than average wage.
Here in Test Valley we want people to be able to live in an area they choose, in the type of home they want and have the choice of either a private rented house, own their own home, live in a shared house, part buy part rent or a social rented house.
Affordable housing is a term used to describe different tenures that are more affordable to people who can’t buy their own home at present.
The different types of affordable housing are as follows:
- Social Rented - rented housing owned and managed by the Local Authority or Registered Provider (RPs).
- Affordable Rented - rented housing let by RPs to households eligible for Social Rented housing. No more than 80% of the local market rent.
- Intermediate Housing - homes at prices and rents that are above Social Rented but below market rents. Low cost home ownership.
For further information on any of the above, please see relevant web pages.
If you require any information, please contact:
The Housing Development Officer
Telephone: 01264 368000