Approach to affordable homes

Chobham, and Surrey as a whole, has become unaffordable for many local people earning ordinary salaries, who want to stay connected with their local friends, family and network. Average house prices in Surrey Heath are now over 10 times the median income.   A recent Housing Needs Survey (June 2018) identified a need for at least 33 new, affordable homes for local people in Chobham, with more people also registered on the Custom and Self-Build Register.

 

To make sure our proposals at Mincing Lane are available for local people in need of affordable housing, Bioregional have done two things:

  1. Assessed local income trends, to understand the mean, median and percentile incomes of local people. We have collected data on key worker income – teachers, hospital workers, police officers – and incomes of people who work in the village, such as gardeners, salon owners, etc.
  2. Housing Needs Survey for the Parish of Chobham to understand the local need.

From the above exercises, we propose the following unit mix and open market value discounts:

  • 6 x 1-bed apartments at 70% open market value
  • 7 x 2-bed homes at 70% open market value
  • 9 x 3-bed houses at 60% open market value

To ensure viability of the scheme without grant funding, we also propose 1 x 2 bed and 7 x 3-bed houses sold at market price.