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Buy back scheme to help meet housing need
8:20am Monday 10th February 2014 in News
A BUY Back scheme looks set to contribute to meeting the ever increasing demand for council housing over the next few months.
Redditch Council is actively looking for ways to increase its housing stock due to more tenants purchasing their properties through the Right to Buy scheme.
To compensate for this loss of housing stock the council has now started to buy back properties from residents who wish to sell for any reason.
So far the council has bought back one property and a further six are due to be completed in the next few months. In the last 12 months 14 enquiries were made by residents requesting the Council buy their property. Each case is looked at on an individual basis but it may be that not all properties put forward are suitable.
Councillor Mark Shurmer, portfolio holder for housing, said: “The new buy back scheme is really good news for Redditch as it will mean we can increase our housing stock and provide more, in demand properties to residents on the waiting list.
“It is also good news for tenants who bought their properties from us previously but need to sell for whatever reason.
“Money has been set aside to buy back some properties and I think it will prove to be a beneficial scheme for many residents.”
The council currently has approximately 6,000 properties across the borough.