A Profile of Hyndburn - 2004 - Hyndburn Borough Council

purchase price. This compares with a low point of just 8.8% in the secondquarter of 1997. The other component of affordability is the ability to repaythe loan plus the ongoing cost of repairing and maintaining the property.(ODPM Housing Market Report Feb 2004)This evidence shows that the costs of owner-occupation are very competitive.As mentioned above the increase in the prevalence of Buy to Let is resultingin many households being pushed into renting as owner-occupation becomesless affordable.AffordabilityThe 2003 Housing Needs Survey concluded that the total affordable housingneed annually in Hyndburn is for 774 units. Relets of the existing social rentedstock and new delivery averages 717 units and is the major means ofaddressing this need. After allowing for this level of supply, there will be anannual affordable housing shortfall of 57 units, which projected over the eightyearperiod to 2011 totals 456 units. This level of need is three times the levelof new provision during the last 3 years which has averaged 19 units eachyear.The current local plan for the period 1991 – 2006, adopted in 1996, does nothave a policy on affordable housing. Hyndburn BC produced supplementaryplanning guidance in March 2001 (revised Nov 2003) in response to PPG3,Regional Planning Guidance for the north-west and publication of the depositedition of the JLSP 2001-2016. This guides the council as to materialconsiderations to be taken into account when determining residential planningapplications until the local plan is reviewed and was considered necessary toaddress 2 key issues:-• The oversupply of housing land already committed by existing planningpermissions• Managing the release of windfall sites, which are coming forward at agreater rate than predicted.The Lancashire Structure Plan for 2001-2016 states that the current levels ofoversupply affecting parts of Lancashire may preclude the necessaryprovision of affordable houses. The main issue is to reverse past decline.Much new development in the past has been at the periphery of towns, awayfrom the inner urban communities. Elevate’s strategy for East Lancashireseeks to concentrate new housing development within or close to towncenters.Any future policy on affordable housing in Hyndburn will be addressed in thenew development plan document on housing that will be drafted in the nearfuture.The Housing Needs Survey concluded that the council will need to negotiatewith private landowners and developers to be able to deliver the scale of35