Council enters open property market to boost housing stock
North Lanarkshire Council is looking to purchase homes on the open market in order to boost its housing stock. .
Plans are being put in place for Scotland’s largest local authority landlord to buy up to 100 properties each year.
Housing development manager Pamela Humphries said: “There is a huge demand for affordable housing across North Lanarkshire and it’s vital we look at different ways of increasing the supply of homes to help meet this need.
“By purchasing good quality homes on the open market, many of which will be ex-council properties, we can help meet people’s housing requirements and increase local housing supply. It will also hopefully help us progress refurbishment works within mixed tenure blocks of flats.”
The main criteria set against the purchase of homes on the open market will be: demand for the type and size of property in that area, combined cost of buying the property and bringing it up to letting standards, enabling the council to take complete (or majority) ownership of blocks of flats to carry out communal repairs, and meeting particular needs not currently available in the council stock (eg. homes suitable for people with disabilities).
The open market purchase is in addition to the council’s successful empty homes scheme.
This involves the council buying long term privately owned empty houses and flats, refurbishing them and renting them out to tenants.