AFFORDABLE housing initiatives in Richmondshire have been boosted by almost half a million pounds grant from Government with more to come.
The money – raised from higher rates of stamp duty on second homes – will be used to support local community housing projects aimed at first-time buyers.
The grant from the Community Housing Fund is one of 148 made to local councils around the country with large numbers of second homes.
The Government wants the cash to “bridge the viability gap” to boost the number of community-led affordable housing schemes, to produce more affordable homes for rent, shared ownership and (discounted) sale.
The announcement of the £493,000 grant by Housing Minister Gavin Barwell was welcomed by the area’s MP Rishi Sunak.
He said: “The impact of second home ownership on areas like Richmondshire is well known and the source of frustration.
“ While not entirely negative because of the benefits for tourism, lots of second homes do crowd out first-time buyers and contribute to a shortage of available properties.
“Often second homes stand empty for a large proportion of the time which can affect community cohesion, the age profile of an area and distort the local housing market.
“This new fund will help tackle that by boosting supply and making sure community groups are at the heart of delivering new homes.”
The leader of Richmondshire District Council, Cllr Yvonne Peacock, said the announcement was excellent news.
She said: “This represents a great opportunity to kick-start our efforts to provide more local, affordable housing in the Yorkshire Dales communities most affected by second homes.
“We have a number of sites which may well be unlocked by this money and, along with staff and councillor colleagues, we will be looking to put it to good effect as soon a possible.”
Hambleton District Council, which has a much lower proportion of second homes than Richmondshire, receives £195,000 in the year 2016/17, from the same fund.
Mr Barwell said the new funding will be targeted at the community-led housing sector and distributed to groups via local councils who knew their area’s needs best.
He added that allocating the funding to these housing organisations would put communities centre stage in deciding what type of housing what was most needed. It would also offer an income stream to community organisations, in turn allowing them to reinvest in more housing or in other activities or services which would benefit their area.
The grants to Richnondshire and Hambleton are for the current year. Further grants will be made next year.
The extra money comes from the Stamp Duty Land Tax surcharge on additional properties to communities affected by second homeownership. It was announced in the 2016 Budget and the detailed allocations for the 148 local councils announced at the end of December.