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23 October 2008
The continuing fall in house prices, coupled with a dramatic change in access to mortgages and other forms of credit, and fluctuating international markets, poses significant challenges for the housing sector. In response to the housing market downturn and the 'credit crunch', the Government have already announced new measures to assist first time buyers, housing associations and developers.
It is timely therefore, that leaders across the housing sector should come together to discuss the impact of the credit crunch in Coventry. The summit explored options that would enable the council to take a proactive approach, as well as the opportunities and threats that lie ahead for housing stakeholders at this crucial time.
The event was well attended with over 50 delegates present, including influential representatives from estate agents, housing associations, developers and housing agencies. Speakers included representatives from Coventry Building Society, Coventry Law Centre, Deeley Homes Ltd and Yeoman & Owen Estate Agents.
Following the summit the Council will be working with key stakeholders to put together a range of initiatives to assist both housing developers and those wanting to purchase properties. The Council will work with local housing associations to purchase unsold private stock from developers and support funding for housing products aimed at first time buyers. Key housing stakeholders who attended the event have committed to working with the Council to develop a range of measures to assist both home-owners and potential home owners through the current housing crisis.
For more information and interviews contact:
Tim Coleman, Coventry Partnership Communications Officer on 02476 83 1743 0r 07939250752 E-mail: tim.coleman@coventry.gov.uk
NOTES FOR EDITORS:
The Coventry Partnership brings together senior representatives from the community, private, public and voluntary sectors to work together to help improve the city as a place to live, work and play.
Established in 2002, the Partnership is the name of Coventry's Local Strategic Partnership (LSP).
It is working towards delivering Coventry's Sustainable Community Strategy and Local Area Agreement - an agreement between the Partnership and government identifying key priorities to help us achieve our goals.
The Transport Theme Group brings together service providers, policy makers and service users from across Coventry.
For copies of the Sustainable Communities Strategy, please download from the Coventry Partnership website: http://www.coventrypartnership.com/scs
A copy of the current Local Area Agreement can be found at:
http://www.coventrypartnership.com/LAA
Credit Crunch prompts Coventry "Housing Summit"
Coventry City Council cabinet member for housing, Cllr Nigel Lee said, "at a time of growing uncertainty over mortgages, rising energy costs and availability of credit and yet the increasing demands on householders to demonstrate energy efficiency, this summit is a timely and necessary step to ensuring all views are taken into account in Coventry and that the Coventry Partnership is best placed to support all residents with the most up to date information and available help at this trying time."The continuing fall in house prices, coupled with a dramatic change in access to mortgages and other forms of credit, and fluctuating international markets, poses significant challenges for the housing sector. In response to the housing market downturn and the 'credit crunch', the Government have already announced new measures to assist first time buyers, housing associations and developers.
It is timely therefore, that leaders across the housing sector should come together to discuss the impact of the credit crunch in Coventry. The summit explored options that would enable the council to take a proactive approach, as well as the opportunities and threats that lie ahead for housing stakeholders at this crucial time.
The event was well attended with over 50 delegates present, including influential representatives from estate agents, housing associations, developers and housing agencies. Speakers included representatives from Coventry Building Society, Coventry Law Centre, Deeley Homes Ltd and Yeoman & Owen Estate Agents.
Following the summit the Council will be working with key stakeholders to put together a range of initiatives to assist both housing developers and those wanting to purchase properties. The Council will work with local housing associations to purchase unsold private stock from developers and support funding for housing products aimed at first time buyers. Key housing stakeholders who attended the event have committed to working with the Council to develop a range of measures to assist both home-owners and potential home owners through the current housing crisis.
For more information and interviews contact:
Tim Coleman, Coventry Partnership Communications Officer on 02476 83 1743 0r 07939250752 E-mail: tim.coleman@coventry.gov.uk
NOTES FOR EDITORS:
The Coventry Partnership brings together senior representatives from the community, private, public and voluntary sectors to work together to help improve the city as a place to live, work and play.
Established in 2002, the Partnership is the name of Coventry's Local Strategic Partnership (LSP).
It is working towards delivering Coventry's Sustainable Community Strategy and Local Area Agreement - an agreement between the Partnership and government identifying key priorities to help us achieve our goals.
The Transport Theme Group brings together service providers, policy makers and service users from across Coventry.
For copies of the Sustainable Communities Strategy, please download from the Coventry Partnership website: http://www.coventrypartnership.com/scs
A copy of the current Local Area Agreement can be found at:
http://www.coventrypartnership.com/LAA
