LiveWest to build 7,000 new homes in next five years

LiveWest Housing Association is set to build around 7,000 affordable homes over the next five years as part of a £2billion investment.
Penzance-GRW-Photography (13)

LiveWest Housing Association is set to build around 7,000 affordable homes over the next five years as part of a £2billion investment in the local economy of the Southwest during the next 10 years. LiveWest’s latest annual report and financial statements highlighted an £82m operating surplus which lays solid foundations for its plans.

LiveWest delivered 701 affordable homes and 86 for open market during the last financial year despite construction being disrupted by the Covid-19 pandemic. Over the next five years, LiveWest will develop around 2,400 affordable homes in Devon, 1,750 in Somerset, 1,400 in Cornwall and 1,400 in the West of England. As the largest housing provider in the South West, LiveWest has more than 38,000 homes across the region with more than 80,000 customers.

LiveWest remains on course to develop 1,100 homes for rent and shared ownership and 106 for outright sale during the current financial year. Chief executive Paul Crawford said: “As we reflect on a year which has brought unprecedented challenges for our organisation, customers and the wider economy, we can be truly proud of how dynamic and resourceful we have been in responding positively to the rapidly changing environment. We have had another year of strong progress and remain in good shape to continue our plans to build desperately needed affordable homes across the South West. Our financial figures provide the springboard for us to continue with our ambitious growth strategy where the focus of our development programme is very much on providing homes that people can afford to live in.”

LiveWest’s priority of providing support for its customers saw it make almost 20,000 welfare calls to the most vulnerable following the outbreak of Covid-19 in order to identify their needs and help them access appropriate community support from its colleagues and other organisations. Recognising the financial difficulties some of its customers have faced, LiveWest increased its hardship grant funding by £600,000 which has seen a 700% rise in applications compared to previous years. As a result, more than 1,500 grants have been issued as well as donations to customers and their wider communities to help with immediate issues, including £108,000 to groups and charities to tackle food poverty. LiveWest also stepped in to help bridge the digital divide created by lockdown by donating more than 300 laptops to schools across the region.

The organisation’s investment plans will sustain 7,000 jobs in the building and supply chain, protecting livelihoods and offering fresh opportunities. LiveWest’s financial strength is further underlined after Moody’s Investors Service maintained its A2 stable credit rating, emphasising the quality of its financial base and management. LiveWest is the one of the region’s largest employers with 1,425 skilled and enthusiastic staff and currently has 48 apprentices working across the organisation.

Related Posts