Herefordshire like much of the UK has seen an increase in the cost of buying a house. With prices in the decade to 2007 rising from £60,000 to £183,000 and since 2010 a further 9%! The average house would now set you back £246,346. This upwards trend isn’t sustainable, it’s over 10 times the average wage.
Herefordshire Housing was created following a transfer of stock from Herefordshire Council in 2002. The created and separate company; Herefordshire Housing exists as a not for profit, relying on rents to fund repairs and the construction of new homes.
Following on from The Oval regeneration scheme (Newton Farm) Herefordshire Housing is working with the local communities in and around the city to establish where the next affordable schemes need to be. Including The Oval, 3 sites are now in progress across the city; 1 where the Ship Inn used to stand (Ross Road) and the 2nd opposite Waitrose on Blackfriars Street. The latter with its central location providing 51 apartments, 22 of which are ring-fenced for over 50s and a further 9 for affordable rent (80% of market rent). The remaining 20 are private rent, with the profits from these and similar rental properties used to finance future projects across Herefordshire.
Over on Ross Road, where the Ship Inn used to stand the foundations are in and the walls are rising. Scheduled for completion in autumn 2019 the development will deliver 35 affordable rent homes for the people of Hereford, but what will it be called? A competition in August asked this very question; suggestions ranged from Kindread Court through to Flaty Mcflatface! The winner will be announced before Christmas on the Herefordshire Housing Facebook page.