Developing new affordable homes
The UK is in the grips of a housing crisis, with Greater Manchester communities badly affected by lack of housing choice. The underlying cause of this crisis is clear – there simply aren’t enough of the right type of decent, affordable homes in the right places. In Greater Manchester, in the region of 3500 new homes are needed each year but only about half of this amount actually gets delivered.
A number of GMHP members are significant developers, and collectively we are at the forefront of tackling this acute shortage of housing. In the last three years our members developed over 5000 new homes in Greater Manchester – approximately a third of all homes developed in the city region – the majority of which are for social or affordable rent.
We also deliver new homes across a range of intermediate tenures such as shared ownership and rent to buy, develop new supported housing accommodation, and sell and rent properties on the open market, generating revenue we reinvest in our communities and use to develop more social and affordable housing.
Strategically, we work closely with Homes England, Greater Manchester’s ten Local Authorities, and the Greater Manchester Combined Authority, working collaboratively to expedite new housing delivery across the region. We will also play a key role in delivering Places for Everyone – Greater Manchester’s long-term plan for new homes and sustainable growth.
But we know we need to do more, and we have ambitions to significantly increase our delivery of new homes in the years ahead. We also look for ways to work together to create genuine additionality and added value. For example, Hive Homes, a ‘profit for purpose’ development joint venture set up by ten of our members, along with GMCA, is building homes for market sale to create further investment in communities across the city region.