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 | | Friday, 16 November, 2001, 16:04 GMT Cash offer in home swap scheme  Newcastle City Council aim to create 20,000 new homes People living in a part of Newcastle-upon-Tyne earmarked for demolition, could receive up to �10,000 off a new house if they decide to stay in the area. Owner-occupiers will receive between 30 and 40% off the price of new properties if their existing home is demolished as part of the city-wide regeneration strategy, Going for Growth. Newcastle City Council has set aside �870,000 to cover the cost of the scheme which will initially apply to homeowners in the Scotswood area. If successful, it could be rolled out to homeowners in other parts of the city affected by clearance for regeneration. 'Clever scheme' Council leader Councillor Tony Flynn said: "I've always said that the council would do everything in its power to make relocation for its residents as easy as possible. "We are working hard to help council house tenants so it pleases me greatly to see our help for owner-occupiers. "This is a clever scheme and indicative of the imaginative thinking that is now required of local authorities by the government.'' The Going for Growth project has faced controversy since councillors gave it the go-ahead.
The 20-year scheme involves the demolition of 6,600 homes - 4,000 of them council owned - and the construction of 20,000 new ones. There was an outcry by many tenants who objected to their homes being demolished but the council has now set up working groups to consult with local people. The new scheme - offering a discount of 30% on a house and 40% on a flat - is designed to help owners facing negative equity. A ceiling of �10,000 has been set for any one homeowner excluding home loss and disturbance payments. The council is seeking a higher discount for people buying property in target regeneration areas including North Benwell and Scotswood village. Housing market Scotswood Councillor Rob Higgins said:" Property values in Scotswood have undoubtedly suffered over recent years and there are big differences in property values even over short distances. "The council is working hard to relocate its own tenants so I welcome this help for owner occupiers. "By applying to the Government to increase the amount of discount it can offer, the council fully recognises the scale of the low value problem affecting some homeowners." The council claims that by limiting choice of properties to the West End the council, it is demonstrating its commitment to boosting the local housing market. Assistance will be offered to owner occupiers who wish to relocate to Scotswood, South and West Benwell, Elswick Riverside, Westgate, West Road, Fenham and Denton Burn. Up to 87 properties will be involved in the pilot. The scheme will go before the council cabinet on Wednesday. | |   Internet links: The BBC is not responsible for the content of external internet sites Top England stories now:  Links to more England stories are at the foot of the page. | ||||||||||||||||||||
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