Housing Market Renewal is addressing long term problems

Date published: 27/03/2007

The Oldham Rochdale Housing Market Renewal Pathfinder has welcomed a national report that shows work to improve local areas is having a positive effect.

The Housing Market Renewal (HMR) Baseline Evaluation report shows that the Pathfinders have made a strong start in reviving housing markets in their communities.

Housing markets and population levels in the nine pathfinder areas - including Oldham and Rochdale - are in a better position than for many years, the new research shows.

Vacancies and low value sales have fallen, and demand for social housing has increased. The report acknowledges that whilst Housing Market Renewal cannot be credited with all these improvements, it is clear that the programme has played a crucial role in rebuilding confidence amongst both communities and investors.   The report says that long-term investment is needed to ensure that these improvements are sustained.

The Oldham Rochdale HMR Pathfinder is in vesting £67.5 million up to 2008 in areas that have suffered from lower house prices. 

Hundreds of new homes are in the pipe-line this year with work set to start this summer on a pioneering 80 home scheme at the former Dale Mill site in Rochdale.

Alastair Graham, Director of the Oldham Rochdale HMR Parthfinder backed the findings.  He said: "This independent research backs the case for HMR and we welcome the Housing Minister's confirmation of the Government's commitment to continued investment in the programme.   It's great to see confidence returning to these areas.   We are giving private developers the confidence to invest, not just in the short term, but in a long term programme of building high quality new homes and facilities. Over the course of the programme we are planning for thousands of new homes as well as other much-needed improvements to neighbourhoods."

Key findings of the report include:

• In most Pathfinders, the proportion of very low value sales under £50,000 has fallen very sharply
• The Pathfinders are on course to reduce the gap between their area and the regional average for both vacancy rates and house-prices by a third by 2010
• The percentage of new social tenants that are working full time has increased from 20% in 2001 to 24% in 2005, much closer to the national average of 24.8%
• The quality of research and intelligence on which the Pathfinders' strategies are based is very high, and sounder than for any previous regeneration programme.

Councillor Zulfiqar Ali, Cabinet Member for Community Cohesion and Housing for Rochdale said: "It's encouraging that this research demonstrates that HMR is making a difference. We want communities that offer modern homes as well as traditional, supported by quality facilities and employment opportunities."