PROPOSALS are to be considered to introduce a Community Housing Scheme that will provide younger generations with a better pathway to home ownership in Ceredigion.
During a Council meeting held virtually on 03 March 2022, Councillors acknowledged the difficulty facing young people to buy their own home and remain in their county.
The decision comes following a paper presented in 2021 that specified a vision to create a pathway to home ownership for the younger generation of Ceredigion.
The full Council supported the proposal and recognised the need to develop a scheme that would support and enable young people to purchase their first property and also benefit the county’s economy and culture.
Options could include a shared equity, rent to own or self-build schemes.
Although Ceredigion has an affordable housing needs issue, it was noted that a significant amount of work has already been done to service these needs. There are 4,000 affordable homes in the county (approximately 12% of total housing stock) and an additional (on average) 45 delivered every year.
Councillor Rhodri Evans, Cabinet Member for the Economy and Regeneration, said:
“The introduction of any future schemes will benefit the residents of Ceredigion, as it widens the scope and availability of affordable products in helping the youngsters of Ceredigion to access homes. Recent trends and the increase in demand for properties in the county, combined with limited supply, have created a housing boom with house prices reaching record levels. It is of the utmost importance to us that we can help create opportunities for people to live and stay in the county, and we look forward to exploring the options available.”
Tackling these issues would align with the Council’s local housing priorities and the Well-being of Future Generations Act.