Housing provider pledges to build more than 2,000 affordable homes in Devon
A leading housing association is set to build more than 2,000 affordable homes in Devon over the next five years as part of a £1billion investment in the regional economy.
As the largest housing provider in the South West, LiveWest has more than 15,000 homes in Devon and currently owns more than 39,000 homes across the South West.
LiveWest has stepped up its investment in the county over the past year after building 280 affordable homes made up of 98 for affordable rent, 67 for social rent and 115 for shared ownership.
In South Hams, 40 affordable homes were built, with 31 in North Devon, 30 in West Devon, 22 in Mid Devon, 16 in Teignbridge and Exeter, 10 in Plymouth and 8 in Torbay.
And there are more plans in the pipeline for the current financial year. In Exeter, 60 homes are being built at Ringswell Avenue, 25 homes at Pinhoe Quarry as part of a 380-home development and a total of 74 homes at the former sites of Foxhayes and Exwick Middle Schools.
Under the planning authority of Teignbridge District Council, LiveWest will deliver a further 50 homes in South West Exeter, 39 at Ashburton and 16 in Newton Abbot.
In Plymouth, 85 homes will be developed with 25 of those forming part of a self-build military veterans project called Stirling House in Honicknowle.
Paul Crawford, Chief Executive for LiveWest, said: “In addition to the challenges associated with Covid-19 over the last 24 months, this year has brought added cost of living, inflation and supply chain issues to our customers, colleagues and wider operating environment.
“Our absolute commitment remains to supporting our customers through the cost-of-living crisis and continuing to develop desperately-needed affordable homes in Devon.
“The sector continues to see demand for affordable homes growing faster than supply and we are seeing over 75 applicants for every property that becomes available for rent. making our strategy to invest sustainably and deliver a long-term programme of new homes even more important.
“The greatest need in Devon is for low cost rented housing which underpins our commitment to increase the supply of new housing with a focus on delivering affordable homes for rent.
“Behind our financial and development figures is the story of how LiveWest has put social purpose, the quality and safety of the homes we develop, health and safety, and the needs of our customers at the heart of everything we do.
“We are a not-for-profit organisation, so we use our surplus to reinvest in our homes and communities, and to build more affordable housing.
“We are also keeping up momentum with the investment in our existing properties having spent £74m in maintaining and improving homes for our current customers. These improvements include significant expenditure on building safety and energy efficiency.
“This will ensure that our homes remain great places to live, as well as protecting our investment for the future.
“Deepening our customer relationships is pivotal for LiveWest and are sustained efforts to meet our customers’ needs are highlighted with an 87% satisfaction rate.”
Using the information obtained from last year’s 19,000 welfare calls to identify customers who require support through LiveWest’s Tenancy Sustainment team, community groups and other agencies, the housing provider awarded 871 grants last year with many being for food and utilities.
LiveWest also appointed an Energy Office as part of its drive to support customers to manage their energy costs.
Mr Crawford added: “We absolutely recognise we are in the grip of a cost-of-living crisis and the focus of our development programme is very much on providing homes that people can afford to live in.
“We are committed to supporting our customers facing financial difficulties and have a £358,000 Tenancy Support Fund which is available for those who do not have their housing costs covered in full by either Universal Credit or Housing Benefit and are experiencing financial challenges.
“Our priority is to ensure that our most vulnerable customers have been able to get the support they need.”
LiveWest annual report and financial statements highlight a £83m operating surplus which lays solid foundations for it to build more than 6,000 affordable homes across the region in the next five years.
The organisation’s investment plans over the next five years will sustain 7,000 jobs in the building and supply chain, protecting livelihoods and offering fresh opportunities.
In rising to the challenge of the housing crisis, LiveWest also entered into a new strategic partnership with Homes England to deliver 2,550 affordable homes by 2028.
This is in addition to having identified all 1,235 affordable homes in relation to its previous Homes England Wave One funding, supporting its development plans across all tenures over the next five years.
LiveWest’s financial strength is further underlined after Moody’s Investors Service maintained its A2 stable credit rating, emphasising the quality of its financial base and management.
Moody’s Investors Service is a leading provider of credit ratings, research and risk analysis and the A2 rating puts LiveWest among the top ratings for finance in the sector.
LiveWest is the one of the region’s largest employers with 1,533 skilled and enthusiastic staff and currently has more than 50 apprentices working across the organisation.
