Construction has reached the half-way point on a new development of 14 much-needed affordable village homes in Stoke-sub- Hamdon, near Yeovil. The new housing scheme in Montacute Road is being developed by leading social housing provider Stonewater, working in partnership with South Somerset District Council, contractors Titan Group and the Homes and Communities Agency.
Built behind the local Co-op store on the site of the former Dykes Nursery, the development will offer a mix of three two-bedroom and seven three-bedroom homes for affordable rent. Four three-bedroom houses will also be available for shared ownership – a part-buy- part-rent scheme which helps people onto the property ladder. Each of the energy-efficient new homes will be well-insulated and equipped with smart meters to help future residents keep their energy bills low. Private gardens and allocated parking will also be provided.
The new Stonewater homes have been built for people with a connection to the District who are otherwise struggling to find suitable housing locally.
Phillippa Yeates, Regional Development Manager for Stonewater, said:
“We are now about half way through our new village development in Montacute Road, which is due for completion in February next year. With the average price of a home in the District at £226,503 – around ten times the average local pay – and typical local open market rents around a third (33 per cent) of the local living wage, these new homes are vital to keeping young families and key workers who support local schools, shops, businesses and services in the District.
“I am delighted to be working once again with South Somerset District Council on this project, which we hope will go some way to tackling the shortage of affordable housing across the District and help more people find good quality homes at a price they can truly afford.”
Councillor Sylvia Seal, the ward member for Stoke sub Hamdon on South Somerset District Council, comments:
“Meeting people’s needs for affordable housing is essential for our village communities to thrive into the future so it is very cheering to know this housing development is on track for completion early in 2018. These are the first new homes in my ward since 2014 when a Community Land Trust completed a similar development in the neighbouring village of Norton sub Hamdon.”
Rory Chichester, Titan Group’s Managing Director, says:
“These new homes in Stoke Sub Hamdon will enable local people to live and work here which is essential to preserve the long- term health and prosperity of the area. With house prices becoming more and more unaffordable against average wages, Titan is pleased to be working with Stonewater to help deliver these much-needed affordable houses in the areas where they are most needed.”