Cllr Jayne Francis has said that the council is on track to ensure that all its residents can live in warm, safe, sustainable homes.
Cabinet has approved proposals to unlock £1.6bn of investment over the next seven years into council homes.
The council’s investment program began in April 2024 and has enabled just over £240m of investment over in its first year, improving the physical condition of just over 4000 homes.
The investment programme for the second year will continue to accelerate this program, ensuring £1.6bn investment is geared towards making sure our homes meet decent home standards.
The council has committed to residents, the Regulator of Social Housing and its partners that it will continue to do all it can to unlock investment opportunities, improve the physical condition of people’s homes and will continue to be transparent about the investment delivered through an annual review process.
Improving the homes our residents live in, is a vital part of the council’s Improvement and Recovery Plan.
Councillor Jayne Francis, Cabinet Member for Housing and Homelessness, said:”All our tenants and leaseholders should be living in warm, safe and sustainable homes. I am pleased to say that we remain on track to ensure all our residents are living in decent homes in the next seven years.“This investment in council homes is the largest in the country we have already done a considerable amount of work in the past year, and I look forward to continuing that pace in the next seven.”Many of our existing tenants and leaseholders will soon see significant improvements in their accommodation. Energy bills will be cut, homes will be safer and warmer, and some tenants will have new kitchens or bathrooms installed.”
Birmingham City Council will fund this investment in social homes from its Housing Revenue Account. The Housing Revenue Account is a ring-fenced account mainly funded through council tenant and leaseholder rents. As the account is ring-fenced, the council’s financial situation will not affect the investment programme.Proposals to increase rents by 2.7% for tenants and leaseholders, in line with the government rent cap of CPI inflation plus 1%, are also set to be approved by the cabinet.
Councillor Jayne Francis, added:”Our proposed rent increase is in line with government guidelines and reflects current inflation rates. We understand the pressures tenants face due to the rising cost of living, and we recognise that these rent increases can be a concern.”Most tenants will be unaffected by this rent increase, as their benefits will cover the additional costs. However, we are committed to supporting all our tenants during this cost of living crisis. We will work to encourage tenants to claim benefits they are entitled to. A range of support is available for tenants experiencing financial difficulties.”