Barnet Council to acquire 249 new homes for affordable rent

Barnet Council’s Cabinet Members have voted unanimously to acquire 249 new build homes from developer Redrow to be made available for affordable rent to the borough’s residents.

The acquisition forms one-quarter of the council’s commitment to deliver 1,000 new affordable homes by 2026. It is expected that the acquisition will be formally completed with an exchange of contracts with Redrow by the end of June. Most of the new homes will be made available for rent starting in October 2023 with the remainder following in January 2024.

The properties are part of the latest phase of the Colindale Gardens development and will offer 42 three-bed family homes and 40 that are wheelchair adaptable. The stock will also include studios, one and two-bedroom properties.

Barnet Council will acquire the 249 homes through its Housing Revenue Account. The properties and communal areas will be managed by Barnet Homes, adding to its social housing portfolio of 13,000 properties across the borough.

Cllr Ross Houston, Deputy Council Leader and Cabinet Member for Housing & Regeneration, welcomed the announcement:

“As a council, we care for our people and that means providing high quality, affordable housing. We have seized this unique opportunity to take a big step forward in our commitment to deliver 1,000 council homes by 2026.

“It represents really good value for money and will make considerable savings on temporary accommodation costs the moment new tenants are able to move in this year.

“Delivering the right homes to meet diverse needs now and for future generations, that people can afford and are in the right places, is a key priority and challenge for the council. We are London’s second largest borough by population but have the sixth lowest stock of social housing. Many of our residents are deeply affected by the acute housing shortage and sky-high rents, so providing more genuinely affordable housing will help those at the sharp end of the cost-of-living crisis.”

In March, the council announced sweeping new plans to improve housing in Barnet including enhancing social housing tenants’ security by moving from fixed-term to lifetime tenancies, and committed to investing £2.2m per annum for the next 10 years to tackle damp and mould in the council’s housing stock.

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Notes to editors

The council and Barnet Homes have worked successfully to reduce the number of households in temporary accommodation (TA) through a successful programme of homelessness prevention activities.

With the cost-of-living crisis,  the number of households in temporary accommodation has since been rising. At the end of November 2022, Barnet had the ninth highest number of households in TA across London.