CIVIC chiefs in Winchester have given approval for a new company that will help address local housing need.

City council cabinet bosses have voted in favour of establishing a housing company, called Venta Living, to supply cheap homes for residents for years to come.

Council documents state that the purpose of the housing company is to provide ‘high-quality energy efficient’ homes to households who struggle to rent privately.

READ MORE HERE: Driver jailed for nine years after crash killed his girlfriend

The company aims to lease 41 flats currently being developed by the council in Winnall and to be managed by Venta Living.

Winchester City Council is committed to retaining council houses under their control with a target of building 1,000 by 2031.

Speaking to cabinet members, councillor Kelsie Learney said: "I think this has been a long time coming but I think it’s been worth taking the time to get this right.

"I think this is important in meeting our pledges for homes for all while the traditional council housing offer is very important to us.

"It’s quite clear that there’s a segment of society that we really haven’t been serving well in this area particularly down to the affordability issues.

"Moving forward with the housing company allows us to fulfil some of the pledges we made to people in Winnall when we came forward with the new flat proposal. I think this is very welcome and I’m very keen to support it."

Cllr Jackie Porter added: "Long-term this has the real potential to make really great differences for families so I’m really pleased that we’re making the effort today to set up the infrastructure so we’re ready to take on the first 41 properties but there’s every hope that this will grow.

"When it does grow, I think this will make a real difference for people in Winchester and it will also enable younger families to stay here.

"I’m always very proud to say that just under ten per cent of the homes in Winchester district are actually council homes and I’m hoping from this we’ll have another ten per cent, long term, that will be endorsed as homes the council can have tenancies for – that would be an amazing achievement."

The initiative has cross-party support as the first steps to setting up the company were taken when the council was Conservative-controlled.