Havering Council project to provide more homes for rent
PUBLISHED: 12:27 22 October 2015 | UPDATED: 12:27 22 October 2015
A new housing company will be set up to provide more private homes for rent across the borough.
Mercury Land Holdings will be at the forefront of a council-run development programme to deliver more properties for market rent and some for sale in Havering.
As London’s population is estimated to reach 9.5 million by 2020, people – particularly in their 20s and 30s – may not be able to afford to buy their own homes as house prices continue to rise in the capital.
The council envisages that there will be an increased demand from tenants for quality and professionally managed rental accommodation.
Cllr Ron Ower, cabinet member for the housing company and oneSource Management, said: “We are pleased to announce the creation of a new housing company which will help to deliver well-located and well-managed private rented accommodation.
“The development of good quality housing will appeal to families and young people.
“This is a positive step in the right direction and at the right time. The company is 100 per cent owned by the council and will focus on the delivery of private homes for rent.
“We will still seek to deliver our affordable housing schemes through our current construction programme.”
The council has confirmed that the car park in Como Street, Romford, will be the first development opportunity under the control and direction of the new housing company.