A report to a meeting taking place this week reveals that in quarter 1 (April – June 2019) “within the Shared Ownership Scheme, the Council has acquired one property and sold equity shares in three properties”.
The target is to purchase 23 properties by the end of 2019/20 and sell the same amount.
“Capital receipts from the equity sales are to be reinvested into the shared ownership programme, as such the budget is to be increased by £289k at quarter 1 and the same amount is to be re-profiled to 2020/21 for future purchases”.
The report comes a few days after it was revealed that the Council has completed only 10 shared ownership deals in the 3 years leading up to April 2019
This week’s report fails to identify any open market purchase of properties which could be added to the Council Housing pool.