Milton Keynes to set up affordable housing company

Milton Keynes Council has revealed its plans to set up its own housing company to expand the town’s range of affordable homes.

The council said the company will build 2,000 ‘truly affordable’ homes available to buy or rent as the council bids to tackle the city’s ‘severe’ housing crisis.

The council revealed the move as it also announced plans to launch a 12-week public consultation on the borough’s planned new housing strategy.

Cllr Nigel Long, cabinet member for housing and regeneration, said: ‘The new housing strategy brings the council’s housing and planning services together to address the shortage of truly affordable housing.

‘Our priority is to ensure that all people have fair and equal access to safe and secure housing that meets their needs. We don’t want to see families pushed into the insecurity of the private landlord.’

Currently, around 800 families are homeless and living in temporary accommodation in Milton Keynes, while the council says that many more families are living in insecure and over-expensive private rental housing.

The council’s proposed housing strategy will see it working with partners such as housing associations, developers and Homes England to increase the delivery of new, high-quality homes.

Long said that the council plans to create 500 new council houses, build 100 new accessible homes and offer a range of other affordable housing choices such as Rent to Buy and shared ownership.

Other headline commitments from the strategy include year-on-year investment in improving existing council housing and the building of new co-operative housing.

Cllr Long added: ‘The new housing strategy will provide a clear direction for all those involved in building or managing homes in Milton Keynes.

‘The new housing strategy will start to end the affordable housing crisis facing Milton Keynes, making secure, high-quality housing the choice for all residents of Milton Keynes as our new city grows.’

Milton Keynes is one of the UK’s fastest-growing towns as its geographical location between Oxford and Cambridge has helped it become part of a burgeoning technology corridor.

However, the town suffers from significant inequality as a recent study found that over one in three children in the local authority are living in poverty.

The council currently plans to work with the government to build 37,000 affordable homes in Milton Keynes by 2050.

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