Devon & Cornwall Housing Group is the largest social landlord in the South West. In the Totnes constituency their housing stock of 3,000 homes is managed by Tor Homes.
Paul Crawford the Chief Executive of Devon & Cornwall Housing Group wanted to stress the importance of Government subsidy providing affordable housing, as Housing Associations are currently raising only 40% of the necessary funding from private finance. With costs running at approximately £140,000 to build a home, capital funding for building projects will be vital in meeting the demands for affordable housing.
Paul also wanted to impress the importance of Supporting People grants in order for organisations such as Tor Homes to continue to support vulnerable people. He explained how "affordable rent" is structured, with 70% of the formula based on the average skilled wage in the County and 30% based on the market value of the property at 1999 values.
Housing Associations would like more flexibility around rent levels in order to be able to fund a higher level of building.