Council housing stock transfer complete
The transfer of our remaining social housing stock to County Durham Housing Group has been completed.
The transfer was formally signed at County Hall and sees ownership and management of around 18,400 homes pass from the council to the newly created, not-for-profit group. The group comprises of three new landlords - Dale & Valley Homes in the west of the county; Durham City Homes in the centre and surrounding areas; and East Durham Homes in the east - all of which currently manage homes on behalf of the council.
What does this mean?
The transfer will mean that tenants can expect more investment opportunities with plans in place for more than £800m of investment over the next 30 years - including a new build programme of 700 properties within the next seven years. The council's remaining housing debt will also be written off.
George Garlick our chief executive said: "The completion of the transfer allows for millions of pounds to be invested in current social housing as well as building new homes, helping to regenerate communities across the county."
An independent ballot of almost 22,000 secure and introductory tenants was carried out last summer with 82 per cent of those voting supporting the transfer.
Following the transfer there is a new Durham City Homes website.