Mayor on track to fund nearly 5,000 new homes across region

Mayor Richard Parker is on track to fund nearly 5,000 new homes this year – the highest number ever achieved using West Midlands mayoral investments.

Latest forecasts show 4,924 homes could be contracted in the 12 months to the end of March next year.

That would follow the previous record-breaking number during the mayor’s first year in office, when 3,363 new homes were approved and 2,946 contracted. An average of 623 homes were contracted in each of the preceding five years.

The figures, revealed in a report going to the West Midlands Combined Authority (WMCA) board this Friday, reflect the mayor’s drive to tackle the region’s housing shortage under his ‘Homes for Everyone’ programme.

A particular focus has been put on more social rent and affordable housing to help transform the lives of thousands of families stuck on housing waiting lists or living in temporary accommodation.

The mayor (pictured) said: “These figures show we are gaining momentum, but we still have a long way to go if we are to fix this housing crisis.

“Too many people are still waiting too long for a safe, warm and affordable home, and it’s blighting lives and stifling economic growth.

“That’s why I will continue to use my funding and influence to invest in new housing and get it delivered faster – helping to transform local lives and businesses for the better.”

The report comes just days after the mayor announced a £40m Social Housing Accelerator Fund to directly deliver up to an extra 1,000 homes for social rent – the most affordable type of housing.

And investment in more housing, especially affordable homes, is set to be a key issue for discussion at the Regional Investment Summit being held in Birmingham on October 21.

The summit, which is being co-hosted by the Chancellor, the mayor and Secretary of State for Business and Trade, will give the West Midlands and other regions the chance to showcase to global investors their potential for growth, innovation, and talent.

The regeneration of derelict industrial sites is expected to feature at the Summit, and the report to the WMCA board points to a robust and growing pipeline of new housing schemes on ‘brownfield’ land including sites that have sat empty for decades.

The report also highlights how the mayor’s existing £129m housing budget is being bolstered by a further £62.7m for new homes and placemaking, secured in April through the region’s first ever Integrated Settlement from Government.

That extra money will be used by the WMCA’s housing and regeneration team to drive the mayor’s housing ambitions and unlock ‘place making’ schemes that create vibrant communities and regenerate high streets and other urban centres.

There are currently 7,450 households, including 14,976 children, living in temporary accommodation across the West Midlands and 65,335 households on the region’s social housing waiting lists.

To help address this the mayor has set a target for the region to be building 2,000 social homes a year by 2028, a key target of his ‘Homes for Everyone’ programme.