Building new homes

Everyone has the right to live in a safe, comfortable and affordable home. In 2022/23, we continued to deliver on our development goals by building much-needed modern homes.

Creating lasting partnerships

Over the last few years, we’ve had great success delivering homes through partnerships with our key local authorities. In 2022/23, one of our main goals was to continue to develop our existing joint ventures with Watford Borough Council and Three Rivers District Council, and explore opportunities to create exciting new partnerships too. By working together we’re able to combine our skills and experience, attract larger funding streams and be at the forefront of new building methods to create high-quality homes that are built to last. 

This year, we joined forces with Hertsmere Borough Council to form a new joint venture, Hertsmere Living. Its first development is at Fairfield Close in Radlett, and consists of seven flats for social rent.  

Hart Homes, our joint venture with Watford Borough Council, completed the second phase of development near Croxley View. Named The Letterpress, the development consists of 86 new homes – four for social rent, 15 for affordable rent, four for shared ownership and 63 for market sale.

Working in partnership with Three Rivers District Council, in just a year we transformed 12 disused garages into four future-proofed family homes that are built to last. 

Read more about The Garth here.

Providing more homes for social rent

We’re incredibly proud to have delivered 56 homes for social rent across seven locations as part of our £15.2million Watford Social Rent Programme, which we delivered in partnership with Watford Borough Council. The programme not only delivered homes for those who need them most, but we also built a brand new community hub and shop at Luther Blissett House.

Scan the QR code to read about how we celebrated the opening of Luther Blissett House with the man himself and members of the local community. 

Read all about the opening of Luther Blissett House here.

27 homes for social rent

38 homes for affordable rent

23 homes for shared ownership

63 homes for market sale

What are our different tenure types?

We are proud to provide homes across a wide range of tenures as this ensures there is a home suitable for everyone. In 2022/23 we completed 153 new homes, which were for social rent, affordable rent, shared ownership or outright sale – but what do those terms actually mean?

Social rent - 27 homes completed in 2022/23

Social rented homes provide the lowest rent levels for those most in need. Nationwide, social rent homes are typically around half the cost of renting an equivalent property on the private market. For Watford Community Housing customers, the average cost of renting a two-bedroom home from us is currently less than 40% of the cost charged on the open market.

Affordable rent - 38 homes completed in 2022/23

If a home is for affordable rent, this means that they are priced at no more than 80% of their open market rented value. They will also provide greater security and certainty than the private sector can offer, as the tenancies are secure – so you could stay there for the rest of your life if you wish to, so long as you do not break your tenancy agreement.

Shared ownership - 25 homes completed in 2022/23

Shared ownership makes it easier for first-time buyers to afford their home, as the amount of money required for a deposit is much lower than when you are buying a property outright. You buy a percentage share of the home and pay a mortgage towards that, while paying a reduced rent on the remaining share. 

Find out more about shared ownership here.

Market sale - 63 homes completed in 2022/23

Amongst our home ownership options are homes for sale on the open market. These are developed through our joint ventures to mitigate risk, and the profit from the sale of these homes goes back to Watford Community Housing and is used to provide more social and affordable housing.