At its Council Budget Meeting yesterday (Thursday 23 February), East Dunbartonshire Council agreed its Housing Revenue and Capital Budget for the year ahead.
The Housing Services expenditure budget for 2023/24 is estimated at £17.30 million and the projected requirement from rents is £16.61 million. A rent increase of 4.2 percent was agreed, increasing the average weekly rent, based on a 52-week period, by £3.38 to £83.76.
Council Leader Gordan Low said, “We were seeking to strike a balance between keeping rents affordable and continuing to invest in both our existing properties and new council housing. Our agreed 4.2% rise is below the average increase of our benchmarked peer group, which is sitting at over 4.7%. And of course, we are mitigating the impact of price increases on our most vulnerable through the cost-of-living support package - agreed in our Council revenue budget - and maintaining our established tenant hardship funds.”
The agreed Housing capital budget for 2023/24 is £20.98 million, which includes:
- Investing just over £7.4 million to improve the quality and energy efficiency of existing Council houses, to meet quality and environmental standards.
- Investing £6.68 million for the development of new affordable, including both social rented and shared equity housing.
- £3.34 million allocated to the purchase of new homes using Turnkey arrangements from developers.
- £3.1 million allocated for the purchase of properties from the open market.
The 5 year capital overview to March 2027 highlights over £138 million of investment across current improvements, new builds and new purchases.
Councillor Low continued, “Our capital programme - both for the year ahead and the five years to March 2028 - demonstrates our commitment to continually improving our current housing stock. Investing in meeting both quality and energy efficiency standards across our properties ensures we also deliver our climate commitments. It also sees significant investment to expand our housing stock through both new builds and targeted purchases.”