Extra funding to boost housing market

An extra £3 million will be invested in neighbourhoods across Oldham and Rochdale this year to help improve the choice and quality of local housing.

The Housing Market Renewal Pathfinder, which is working in ten neighbourhoods across the two boroughs, is investing £27 million this year to build new homes, buy and clear properties to create sites for development and refurbish people’s current homes.

This week the Government confirmed that it would add an additional £3 million to the Pathfinder’s funding for this year. This extra money depended on the Pathfinder exceeding targets for new build, refurbishment, acquisitions and demolition in the first three months of the year, and on continuing strong performance.

The Pathfinder’s performance was also judged against how well it is responding to market conditions, how it is engaging with local people and how it is helping to create jobs and training opportunities for local people; all targets which have been met by the Pathfinder.

Pathfinder Director Alastair Graham said: “We are very pleased that our outstanding record of delivery, and the strength of our plans for the future have enabled us to secure this additional funding. We can now press ahead to make an even bigger difference in Rochdale neighbourhoods.

“This money will mean that we can get started on over 150 new homes this year. We expect to refurbish an extra 57 homes, purchase 17 more properties and clear 30 buildings to create sites for future development.”

The Housing Market Renewal Pathfinder is involved in four neighbourhoods in Rochdale; Kirkholt, Inner Rochdale, East Central Rochdale (Townhead, Wardleworth, Hamer, Belfield, Cloverhall and Mayfield) and Langley in Middleton.