Agenda item

7.1

The Committee received a report of the Executive Director, Place, which provided a short history of the Sheffield Housing Company and an update on its progress to date.  The report was supported by a presentation given by John Clephan, Regeneration Manager.

7.2

Members made various comments and asked a number of questions, to which responses were provided as follows:-

·                     The properties for sale were generally more expensive than ex-Council houses in the surrounding areas.  However, they were cheaper than some new build competitors.  It should be noted that they were not subsidised.  Initial sales activity showed that there was a healthy demand for these properties.

·                     Many of the buyers had benefitted from the Help to Buy Government scheme.

·                     The average price on the Parson Cross development was up to £155,000 for a four bedroomed property and just over £100,000 for a two-bedroomed property.

·                     There were approximately 17 different types of property on offer.

·                     There had been a greater demand for the larger family homes since sales began.

·                     Phase 2 properties in the Fir Vale area would be located around the Earl Marshal School, near the temporary car wash.  It was estimated that 60 homes would be delivered in this location.  It was likely that more 4, 5 and possibly 6 bedroomed homes would be included in the mix for this site.

·                     Whilst the development agreement prevented the sale of these properties to bulk buyers, it did not prevent buyers from renting them out.  In the light of this it was important to consider who the properties were marketed to.  It should be noted that the properties were not freehold sales and any issues regarding renting could potentially be addressed through the management of the leases.  It should also be noted that social landlords were able to bulk buy these properties.

7.3

RESOLVED: That the Committee:-

(a)       thanks John Clephan for his contribution to the meeting; and

(b)       notes the contents of the report and presentation and the responses to questions.