Our successful Open Market Purchase Scheme meets and exceeds its target of 100 for the year, bringing more homes back into use for rent across the area.
The scheme allows the purchase of houses for sale on the open market in areas where there is a clear demand for that type and size of property to add to our current stock.
This initiative forms part of our ambitious plans to improve and expand our housing stock and helps supplement our new house building programme.
Catriona Arbuckle, Development Officer, said: “What’s significant about our achievement is that we were able to progress purchases and exceed our target despite the Covid pandemic. The pandemic saw our new supply team, surveyors and legal colleagues put in rigorous new working practices to adhere to all new Scottish Government safety guidance. This has allowed the scheme, which is supported by the Scottish Government, to continue and exceed our target.
“We’ll continue to identify suitable properties that we can bring back into use ensuring we maximise the stock of available homes on offer to our tenants and residents.
“The scheme also allows us to progress plans for our tower re-provisioning programme by letting us purchase a number of private homes in existing towers blocks earmarked for demolition. It’s just one of the ways we’re supporting our ambitious plans for 5,000 additional home for rent by 2035 and our vision to make North Lanarkshire the place to live.”
The main criteria for the purchase of homes on the open market is:
- There is demand for the type and size of property in that area,
- The combined cost of buying the property and bringing it up to letting standards would represent value for money to the council,
- Where the purchase of a property will enable the council to take complete, or majority, ownership of blocks of flats making communal repairs much easier to complete, and
- Homes purchased would meet the particular needs of households not currently available in the council stock, e.g. homes suitable for people with disabilities.
Find out more about our buy back scheme.