The North East Chamber of Commerce (NECC) and social housing group Thirteen are working in partnership to investigate the North East housing market.
The partnership will see the North East’s largest landlord group working with NECC to understand the region’s current housing market for potential house-buyers, and potentially develop a new product for low-cost homeownership suited to the region’s housing needs.
Together, the organisations aim to: gain further knowledge in the housing finance market in the North East; understand what low-cost homeownership products are right for this market; and identify new ways to develop and deliver potential products.
Thirteen join leading North East businesses as an NECC partner, including BT, Sage and Virgin Money, is a valuable prospect to Alison Thain, chief executive of Thirteen Group.
“As a business rooted in the North East, we’re really proud to be a partner of the NECC,” said Ms Thain.
“At Thirteen, we’re first and foremost a housing provider, committed to being a catalyst for change, providing opportunities for people to make a positive difference to their own lives, as well as to wider communities and making an impact on the region as a whole.
“Working together we will carry out a comprehensive survey to understand the region’s housing finance market and launch a report discussing the economic benefits of delivering a wider range of housing for a range of incomes with the aim of planning how stakeholders can develop a potential low-cost homeownership product.”
NECC Director of Policy, Ross Smith, believes the partnership has come at the perfect time.
“Through our Manifesto we are committed to a Working North East and if we are to promote North East England as a great place to build a career, there must be affordable homes available to those who wish to build their careers here.
“Since the election, we have seen a clear shift in the direction of housing policy. With the Government currently consulting on proposals to widen the definition of affordable housing to include a much broader range of products that facilitate low-cost homeownership, we’re excited to be working together to consider new options.
“Our 50 Great Reasons campaign previously highlighted the North East as a great place to live and do business and we believe the popularity of our region will only increase.”