Croydon residents will benefit from increased investment in Council homes – including in repairs and reducing damp and mould – after a strengthened business plan for the Council’s Housing Revenue Accounts was approved.

Over the past year, Croydon has been transforming its housing service, by improving stock condition data and carrying out proactive repairs. The new business and financial plan for housing builds on this work to provide suitable homes for the borough.

The Housing Revenue Account (HRA) business plan, which was approved by Cabinet on 12 February, was based on surveys which reviewed the condition of 67% of Council-owned homes.

It details plans to increase budgets on capital maintenance, with a targeted investment of £820m over the 30-year period. For 2025-26, Croydon also proposes raising its repairs budget to £10.5m for repairs to address backlogs, tackle damp and mould and improve living conditions as we tackle the repairs and improvements planned for our stock.

Croydon is also growing the number of Council homes in the borough, with £166m of investment for the Regina Road redevelopment, which will deliver 225 new affordable homes. This is supported by £54m government funding through the Greater London Authority (GLA).

A further £30m is earmarked to expand Croydon’s social housing stock and provide more homes for families most in need.

The recent acquisition of Zodiac House will also provide 73 temporary homes to support residents facing homelessness, helping to address this London-wide issue.

This will save the Council £1m annually, with the potential for a further £78m to be saved through cost avoidance over the 40-year period of the project.

Jason Perry, Executive Mayor of Croydon, said:

“Over the past year, we have made significant progress in transforming Croydon’s housing service. Unlike the under investment in the past we are now in a stronger position to deliver on my commitment to provide high-quality, safe, and sustainable homes for our residents.

“This budget builds on that success, ensuring we continue to invest in our housing and deliver an effective service that prioritises our tenants.”

 

 

The new Housing Revenue Account (HRA) business plan supports the key priorities in the Mayor’s Business Plan 2022 – 2026; Croydon’s Housing Strategy 2024 – 2029, as well as the Housing Asset Management Strategy 2024 – 2029.