£10m In Affordable Homes 'Defies Recession'

House-building in Peterborough has defied the economic recession for a second year, helped primarily by nearly £10.3 million invested in residential developments by local housing associations.

Figures just released by Peterborough City Council reveal a total of 1,125 new homes were completed during 2009/10, the second highest figure for the past 15 years after the 1,265 built in 2006/07. Total house completions in 2008/09 were 1,049.

Last year's total included 708 (63 per cent) homes built by housing associations for rent or 'shared ownership' by people who cannot afford mortgages to buy private sector homes.


91 per cent of all last year's new homes were built on previously developed 'brownfield' land – significantly exceeding the government target of 60 per cent.

Peterborough City Council leader Councillor Marco Cereste said: "These figures show that, even in a recession, Peterborough has the capacity to support economic development.

"In addition to providing much needed homes for local people, these developments have protected jobs and supported the local economy when other parts of the country have been suffering decline. It demonstrates that Peterborough can deliver growth in a way that benefits the whole community."

The recession meant that the number of homes completed by the private sector in 2009/10 fell 40 per cent below the average for the past eight years. However, city council officers worked with local housing associations to secure £10,290,400 from the Homes and Communities Agency for construction of 'affordable' housing.

(CD)