Affordable Housing

What is Affordable Housing?

Affordable housing is a generic term used by housing professionals and other’s who operate in the sector to describe housing that has usually been subsidised in some way so, as to provide housing that local people need and can afford. It can be classified as non-market housing, at prices below market values and can take the following forms;

Social housing for rent - the rent for these properties will be set at an affordable level as determined by Central Government which, is below private market rent level but, falls within levels that local authorities will cover with Housing Benefit.
Sub-Market renting also referred to as intermediate rent - rents are set between social and market rent levels, reflecting the needs of households in the "intermediate market” i.e. Keyworkers.
Low cost home ownership schemes - Number of different products that allow people to move into home ownership;

Shared ownership - households purchase a part of the equity in their home and the other share is rented. In time, future shares can be purchased and the property could be purchased outright.Equity loans - households are provided with an interest-free loan to cover part of the cost of purchasing a home. Currently offered under the Homebuy Direct scheme including new build schemes and Government’s Key Worker Living initiative.Discounted market sale - this means that a property will be sold at a discount on the market value. This discount remains in operation every time the property is sold thus, ensuring that the property remains affordable in perpetuity though a legal charge.

Enabling Officer

Great Yarmouth Borough Council’s enabling role is to use its various powers to aid other agencies, we do not build any housing ourselves, instead we work with Registered Providers of Social Housing (RPSH) to support their efforts to develop new affordable housing (to rent or part buy) in the Borough.We recognise that partnership working is an essential part of this enabling role. We have successfully worked with RPSH, Voluntary Organisations, Norfolk County Council, Parish Councils, Private Developers, other Local Authorities and the Homes and Communities agency in order to prove the need for, plan for and deliver affordable housing of all types within the borough.One key aspect of this role is to ensure that any new development matches the identified housing need in the Borough. The Council regularly undertakes housing needs surveys to ensure that we use up to date information to inform decisions about new developments.We aim to provide an excellent service for our customers. Our customers include members of the public who may own land, parish councils, public bodies, housing associations, support agencies and developers.Being a small Section, if you wish to meet and talk in person it is always advisable to book an appointment.