Strategic Housing Market Assessment - North Devon District Council

SHMA: Torridge and North Devon Update
Key findings:
• Based on Devon Home Choice data for the period from January 2010 to the
end of February 2012, an average of 436 properties have been available
annually across both districts, representing a turnover rate of 6.24%, ranging
from 5% in North Devon to 9% in Torridge;
• The smaller the property the higher the turnover, ranging from 8% for 1 beds
in North Devon to 14% in Torridge. By contrast, the turnover for 3 bed
properties was only 2% in North Devon and 5% in Torridge; and
• Representing the make up of the stock, most lettings were of the smallest
properties. 55% were 1 bed in North Devon and 37% in Torridge; 32% were 2
bed in North Devon and 42% in Torridge. 3 bed and larger family homes are
the least available in terms of supply, making up 11% of lettings in North
Devon and 20% in Torridge.
3.69 Introduced in 1980, the Right to Buy resulted in a contraction in the stock of
local authority social rented housing, especially of houses. The scheme was
extended to housing association tenants under the Right to Acquire in 1997.
However, limitations on eligibility and reductions in purchase discounts
introduced in 2005 have reduced the number of sales dramatically. CORE
sales data records 5 Right to Buy and Right to Acquire sales in North Devon
between 2007-08 and 2010-11 but none in Torridge.
3.70 The following table identifies the average rents charged for social rented
properties in 2010-11.
Table 3.23: social rents by type and bed size, 2010-11
Type & Bedsize North Devon Torridge
1 bed £60.60 £61.07
2 bed £70.42 £64.28
3 bed £80.42 £79.24
4 bed £93.90 £97.06
(Source: CORE)
Key findings:
• Average rents charged are similar across the 2 districts.
Housing stock and supply: current profile
3.71 The following table summarises changes to the stock totals for the North
Devon and Torridge area for the 10 years from 2002-2011.
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