Mid Market Rents in Milton

On Wednesday I was along at the ceremony to mark the handing over of keys to new tenants in Moray Apartments down in Milton. Dunedin Canmore Housing Association acquired 15 homes from a developer supported by an innovative rental guarantee scheme, involving the Scottish Government and the Council, which meant that these homes have come into use rented at a “mid market” rate to new tenants with no subsidy from the public purse.   

There is a need for 16600 additional affordable houses in Edinburgh over the next ten years. The term affordable is an umbrella term applied to social rented, first time buyer homes, homes which are part mortgage and part rented and also mid market rental- rents between social rent levels and market rent.  Of those 16600 around 4800 are people who could be suitable for accessing mid market rental properties.  

We have a chronic shortage of housing and any tenants going for mid market ease the demand for social rented flats. The rental guarantee scheme is just one of a number of eye catching and cutting edge developments we have tried here in Edinburgh a point made by Housing Minister Alex Neil who was on hand to pass the keys over. He praised the City Council saying that we were extrodinarilty innovative in ouir approach.