Newport Housing Trust’s Community Living Scheme has been put on hold temporarily, due to the current unstable economic climate.
The development due to commence construction on site at Treberth in April 2011 has been paused by the Board of Directors. This is due to the lack of firm reservations received; people have conveyed that they are concerned they may not be able to sell their home in this current market at a level that they need to purchase an apartment. Statistics from the Land Registry show that house prices have reduced by 11% since the project commenced in November 2007.
Phil Toms, Chief Executive of Newport Housing Trust said:-
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