Agenda item - Home Purchase Policy

9.1      The Home Purchase Policy report was tabled as an additional agenda item and presented by the Tenancy Services Operations Manager who highlighted:

·      The council was seeking to spend up to £1 million on purchasing housing in the city.

·      Individual properties could not be purchased for more than £250,000.

·      If this policy is agreed it will be reviewed annually as part of the Housing Revenue Account budget.

·      The council had first right of refusal on properties purchased under right to buy and there had been 15 eligible properties sold last year.

9.2      Residents agreed that this was a positive step but cautioned that there was a potential opportunity cost of maintain existing stock and building new housing to be considered.

9.3      Resolved: The report was noted