The Big Issue on Poundbury

There "are sub-£200k flats, with some available for shared ownership. One of the principles behind Poundbury is a mix of affordable homes alongside less affordable properties, and 35 per cent of the homes being built are affordable housing for rent, shared ownership or discounted sales.

The Duchy also has a Discount to Open Market scheme running in Poundbury, which allows first-time buyers to purchase properties at a 25-30 per cent discount which is then passed on to the next owner."

Ben Murphy, the Duchy of Cornwall’s estates director, is quoted

“To look back, it’s quite shocking to think now that Poundbury was the first place that integrated affordable housing with market housing. That has influenced national planning policy,” says Murphy. “Developers would think, ‘Oh no, it will detract from the value of private homes’;  perhaps there was a stigma and I think it’s been proven to be untrue and incorrect. 

“All the places that really work well, that have a strong social cohesion, are diverse. It brings vibrancy and vitality to a place and I think it benefits the community at large by having a well-balanced mix of tenures and people from all walks of life. I’m very proud that we delivered 35 per cent affordable housing but when they’re not just integrated but indistinguishable, I don’t think you can really underestimate how important that is.” 

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One comment on “The Big Issue on Poundbury”

  1. Poundbury has only 154 council (social housing for rent) houses in a development of 2320 homes (as of 30th April 2023)
    I think that’s 6.6% council houses!

    The Duchy wrote an email replying to me on 29.02.2024 about their plans for South East Faversham saying:
    “Discounted open market homes are discounted by 30% against the market value and are reserved for first-time buyers, local residents, or those on the housing waiting list.”

    Is it me or are people on the housing waiting list too poor to buy their own home? 30% off a house selling for £500,000 is £350,000 which means you’d need an annual income of around £77,777 to £87,500 to be approved for a £350,000 mortgage. This is above the average UK annual salary, currently £34,900 (March 2024). https://www.onlinemortgageadvisor.co.uk/mortgage-repayments/350k-mortgage-repayments/

    Furthermore, from The Big Issue article above:

    “We are a land and property business, it’s not a charitable endeavour”. Ben Murphy.

    “Poundbury is an interesting idea. It’s been like Marmite before because it was green fields (400 acres).”

    So what about future UK food security when we’ve built on our best farmland?

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