Caerphilly County Borough Council has approved a new intermediate rent policy designed to expand affordable housing provision and support residents priced out of home ownership.
The policy, unanimously backed by Cabinet, forms part of the Council’s wider ambition to deliver 1,000 affordable homes across the borough.
Under the scheme, more intermediate rent homes will be introduced for people on low to moderate incomes who are unable to buy a home but can afford rents above traditional social housing levels. Rental costs are expected to be set at around 80% of prevailing market rates.
The Council says the policy is intended to increase affordable housing choice, support the creation of mixed and sustainable communities, and help ease pressure on both social housing waiting lists and temporary accommodation.
FINANCIALLY VIABLE
Intermediate rent homes will be delivered in locations where local housing need has been identified and where developments are considered financially viable.
The move comes as councils across Wales and the wider UK continue to face growing pressure around housing affordability, rising temporary accommodation costs and increasing demand for affordable homes.
AFFORDABLE OPTIONS
Councillor Shayne Cook (main picture, inset), Deputy Leader of Caerphilly Council and Cabinet Member for Housing, says: “This is an important step in helping us tackle the significant housing challenges we face across the borough.
“The introduction of intermediate rental properties will provide more affordable options for residents who are currently priced out of the housing market, helping us respond to growing demand and a wide range of needs.
“By offering a wider mix of homes within our developments, we can create more balanced and sustainable communities while also helping to reduce pressures on temporary accommodation.”
