On the 8 July 2015 the government announced that an annual 1% rent reduction would apply to social housing rents from 2016-17. The reductions apply over a four year period to 2019-20 inclusive.
The financial impacts from the 1% reduction alone were significant, representing a shortfall of rental income of £19 million over a five year period and £217 million over a 30 year period compared to assumed future rent increases at the time.
Despite the challenges created by the loss of income, Stockport Homes are confident that we can continue to deliver normal capital programmes and maintenance works through careful management and procurement.
Stockport Homes will continue to actively engage with customers to determine future capital investment works.
In September 2016, the customer roadshow focussed on customer priorities for capital investment programmes and on 13 December we will discuss the results and how these have shaped future capital investment plans.
Please contact the Customer and Community Engagement Team on 0161 474 2862 or firstname.lastname@example.org to book your place.