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16/02/2017

Council sanctions £183m council housing investment

Words: Laura Edgar
Birmingham City Council

Birmingham City Council has approved a £183 million investment into its council housing.

The council’s cabinet approved a £168.626 programme of investment into its stock of council properties as well as a £14.797 million investment into other programmes, including adaptations, clearing and redevelopment costs.

These are part of a total housing investment capital fund budget of £358.969 million.

Birmingham City Council’s cabinet member for housing and homes Peter Griffiths said: “We currently own and manage 62,616 homes properties and have made substantial improvements to thousands of our properties over the last few years.

“The average age of our properties is approaching 70 years, so investing in our stock is essential in order to safeguard its condition.

“The programme for 2017/18 to 2019/20 forms part of a continued programme of investment."

He added that the money would be used to update existing stock.

The cabinet has also approved a continued 1 per cent reduction in rent in line with the government’s new rent policy.

Image credit | iStock

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