Study shows people renting privately in Three Rivers are spending more than half of their monthly income on rent.
A 2017 report by the National Housing Federation stated that Three Rivers has an average house price of £520,644 and average monthly rental cost of £1,434, which is by far the highest out of all areas in the East of England.
A young member of the Green Party says: “This is a terrible situation for young people like me and one which is only getting worse. I am still living with my parents in Rickmansworth because I can’t afford to buy anywhere of my own locally and renting would leave me with little money to live off. I love this area and have lived here all my life so it is sad to think I may be forced to move away. I support the Green Party’s policies for rent caps, landlord regulation and building a larger percentage of affordable housing for first time buyers.”
People renting privately in Three Rivers are being forced to spend more than half of their monthly income on rent. Three Rivers has a pressing need for more affordable homes, so young people are not forced to move away from the area.
Three Rivers District Council are not meeting their own targets for new affordable and socially rented homes.
What Three Rivers District Council say: “The Council will require affordable housing to be provided on-site for proposals with a net gain of 10 or more dwellings. All proposals for residential development will be required to comprise 45% affordable housing, regardless of the availability of grant, with a guideline tenure split of 70% social rented and 30% intermediate affordable housing.”
Reality: In high profiles schemes such as the South Oxhey regeneration, just 117 of the 514 homes will be cheaper than the market rate, which is around 22%. Last year the Watford Observer revealed that just 96 houses would be classed as socially rented homes. 48 of these would then be converted into affordable housing once the first tenancy comes to an end. This means the price for the next tenant would increase.The current definition for “affordable” housing is classed as 80% of market rates which is not truly affordable for most people.
Affordability should be based on earnings not markets. We all want somewhere warm, safe and secure to call home. But we have a housing crisis with soaring private rents while social housing is being sold off left, right and centre. We need homes that people can afford to live in.
The Council is not meeting it’s targets. Green Councillors would fight for more affordable and social housing in new developments.