A NEW £5 million development of 38 houses for affordable rent for local people has been officially opened in Bisley Old Road, Stroud.

Stroud District Council worked with social housing provider Stonewater to deliver the new one, two and three-bedroom rental homes at Margaret Hills Place.

The housing community offers a mix of eight energy-efficient one-bedroom apartments, 19 two-bedroom houses and 11 three-bedroom family homes.

The opening coincides with the publication this week of the National Housing Federation’s (NHF) annual report on the state of England’s housing market.

The report shows that, at £266,033, the average cost of a home in the Stroud area is more than nine times the average local salary.

Meanwhile typical monthly private sector rents of £722 are almost a third (30 per cent) of Stroud workers’ average take home pay.

In 2016 the average yearly salary in the district was £29,026. Yet the income required for 80 per cent mortgage was £60,808.

“This report highlights how frighteningly unaffordable housing has become for people on average local wages, many of whom are having to go without other necessities such as food and heat, to pay for a roof over their head,” says Jonathan Layzell, Stonewater’s executive director for development.

“These new Stonewater homes in Bisley Old Road highlight the vitally important role housing associations play in tackling the shortage of affordable housing in Stroud and across the South West.”

The development has been funded by Stonewater helped by a £380,000 Homes and Communities Agency grant and £130,000 from Stroud District Council (SDC).

Green councillor Simon Pickering, said: “Having a warm safe home is essential for everyone.

“SDC is committed to providing high quality and good value houses for rent for the residents of the whole district.

“Working with partners such as Stonewater is an excellent way to maximise use of the council’s limited resources to maximise the number of new homes in the district.

“These houses at Margaret Hills Place have low running costs, are close to a brilliant primary school and some have possibly the best view in the district.”

“As one of Britain’s most expensive regions, the South West has experienced first-hand the brunt of the housing crisis, says Jenny Allen, from the National Housing Federation in the South West.

“The spike in house prices has had a devastating impact on rural communities, especially with young families being priced out.

“This is having a knock-on effect on local amenities, including shops and schools, and is detrimental to everyone.

“As this year’s Home Truths report shows, the number of homes built is far below what the region needs to keep up with demand.”

Margaret Hills Place was named after Margaret Hills, the first woman to be elected to SDC in April 1928.

Councillor Chas Townley, who attended the opening ceremony of the new Stonewater homes, proposed the name whilst the scheme was under construction.