NHT to build 7,900 housing units
Published:Sunday | January 23, 2011 | 12:00 AM
Dionne Rose, Business Reporter
THE National Housing Trust (NHT) plans to develop some 7,900 housing units in the next three years, but the agency's boss said she would not disclose the investment to be made until the board signs off on the financing plan.
The units are a fraction of the housing need that an NHT survey done five years ago determined as a 437,570 deficit. The same survey, however, counted effective demand - those ready to buy - at around 100,246, or 23 per cent of total need.
Managing director of the NHT, Annette Watson, said her three-year plan involves delivering 2,537 housing solutions to the market in the next fiscal year, which starts in April; another 3,600 in 2012; and 1,800 in 2013.
Watson explained effective demand: "People who would meet the criteria of being in the housing market by virtue of their age, being 18 to 65, and are currently employed or self-employed, wishing to change their housing situation within the next five years."
Housing demand
She noted that these persons who would be currently contributing to the trust, or are willing to start doing so, had never received an NHT benefit and intended to seek financing for their housing plans from the NHT.
The survey was conducted between 2005 and 2009.
"The effective demand is based on those in the housing market, but they are actively pursuing their housing plans, or they have started to save a down payment and intend to borrow," Watson said, noting that the research was done to help guide the NHT in its housing plans.
According to the survey, St Andrew, followed by St Catherine, accounted for the lion's share of the general housing demand in the country.
The highest levels of effective demand were counted as 31,477 in St Catherine, followed by 19,036 in St James, and 18,307 in St Andrew.
Low income levels in St Andrew were said to have accounted significantly for the lower effective demand there.
The broader measure of housing- need deficit was highest in St Andrew - 131,000; and in St Catherine, 99,926. Trelawny showed the lowest level of demand with just 2,344.
Watson, who replaced Earl Samuels as head the housing organisation, said during her tenure, she would be pushing to bring more affordable houses to the market. This, she said, would be done by engaging the various stakeholders in dialogue.
"How do we remove those obstacles to home ownership? How do we bring down the cost? Is thereany over-designingin terms of our basic requirements ?" said Watson, outlining what she said were some of the issues needing discussion.
"We want to improve the customer experience (to) the contributors who have come to our doors not only for mortgages, but also to get their contribution refund."
Already, extended hours have been put in place at the housing agency's customer-care centre.