We're building affordable new homes across Bury, investing upwards of £7.5 million across the borough. Lowther Park in Prestwich is our latest development to complete which offers a mix of seven 3 and 4-bedroom homes which have been sold via the Government’s shared ownership scheme, that helps people onto the property ladder. Plus 12 apartments for affordable rent which have been let through Bury Council’s housing waiting list.
Prestwich has become a highly sought-after area of Manchester. According to Rightmove, last year property sale prices in the borough were up 14% on the previous year and 14% up on the 2018 peak. With an average house price of £268,582 and rising private rental costs, it is becoming extremely difficult for local people on lower incomes to buy or rent a property.
Sasha Deepwell, Chief Executive of Irwell Valley Homes, said: “We know how hard it can be for people to access good quality, affordable housing. So, we are delighted to be building more affordable homes in Bury to help people remain in their local community.
She went on to say: “There is an acute need for more affordable homes across Greater Manchester. We are investing £170 million in developing over 1270 affordable new homes over the next five years. Including new homes like these at Lowther Park for shared ownership and affordable rent. Plus, new homes for social rent and supported housing for those who need extra support to live independently within our communities.
She added: “We are also investing in our existing homes and working with key partners including Homes England, local authorities and the Greater Manchester Housing Providers to reduce homelessness and deliver better housing options for customers.”
Lowther Park comes hot of the heals of five new eco-homes in Radcliffe which we've also developed. The innovative new homes on Siddall Street are highly efficient and were constructed using prefabricated wooden panels, which are substantially better insulated compared to traditional new build homes. Each home benefits from a mechanical ventilation heating recovery system and solar panels which produce renewable energy for residents.
Thanks to these new technologies the electricity bills for residents are estimated to be just £35 per month, compared to £150 per month for gas and electricity in the average family home, making these properties much more affordable for people on lower incomes.
Cllr Clare Cummins, Cabinet member for Housing said: "The delivery of new affordable homes is a top priority of the Council and we are pleased to support the work being done by Irwell Valley Homes in bringing these to the market. These new properties will directly benefit local people on our housing waiting list. It was also great to see high environmental standards being built into the properties, reducing energy bills for residents and helping us to reduce the carbon footprint of the borough."
Maria Stephens, one of the new residents said “This is going to be a huge help to me and my family. I think it's brilliant that Irwell Valley Homes has built these truly affordable, family homes”.
In addition to Lowther Park and the Siddall Street development, we're developing a further 19 homes for affordable rent, plus four apartments for social rent in Radcliffe which are due to complete in the summer.
Cllr Eamonn O'Brien added: "I was delighted to be able to visit the new affordable homes in Prestwich and Radcliffe, and to speak with some of the new residents who are excited about moving in. Irwell Valley Homes have done a fantastic job in bringing forward these brownfield sites forward for delivery and I'm looking forward to seeing more sites come forward in the future."