Norwich city council has agreed to lend its own housing
company up to £21m to prevent the firm’s collapse, after bosses insisted
“lessons were learned” from the loss of £6m of taxpayers’ money. The city
council set up housing firm Norwich Regeneration Ltd in 2015 to create 1,000
homes at Rayne Park, in Bowthorpe. And the authority loaned the business
millions of pounds to fund the project’s completion. But it was revealed the
company lost £6m after initial homes were sold for less than they cost to build
and the council was overcharged according to a leaked report. Read more on the
Eastern Daily Press website.
How Europe’s housing crisis is fuelling a new movement
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As soaring rents and house prices across Europe feed into the political
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