PRIVATE homes will be bought up by Southend Council as part of a £4.3million drive to slash the town’s burgeoning housing waiting list.

Southend Council has agreed the multi-million pound investment to help the 1,472 families or individuals waiting for a home.

The cash will be used to buy up homes which can then be rented out.

The income will then be used for a series of other targeted initiatives to help the homeless and the most vulnerable.

Under the plan, approved this week, people spending more than a third of their income on rent will be eligible for council housing.

Those living outside Southend will only be able to register once they have worked in the borough for three years.

And people living in temporary accommodation will remain on the waiting list rather than be dropped from it.

Labour’s Ian Gilbert, council leader, said: “This is an important step in making sure our limited housing stock goes to those who need it the most.

“It gives people who are homeless and those who are struggling to afford the cost of housing, a route to the support the need.

“For example, our new policy proposes to help rough sleepers and single homeless people by upgrading their priority, while also exploring the full range of potential housing options with them via personalised plans.

“We will also be supporting more people than ever before to move from supported housing into social housing once they are ready to live independently, which will in turn increase the supply of supported housing available to those in greatest need.”

Mr Gilbert claims the changes will help them build relationships with landlords who will be given incentives to support the plan, although the exact nature of the incentives has not been revealed.

He said: “A fundamental shift in our approach with this policy is to have more flexibility to closely support applicants to explore their housing options, so we can change the way we work and move away from allocations feeling like an administrative process.

“The allocations policy cannot be viewed in isolation from the new administration’s commitment to increasing the amount of housing available to those who really need it.”

Homeless people in supported accommodation - including hostels - who are ready to be independent will be placed in the highest and most urgent band A.

Another group to benefit from the changes are those under the age of 25 who have a history of being in care.

There is no legal requirement for the council to include this group on the waiting list but it is seen as part of a prevention strategy based on evidence that suggests those with a history of care are more likely to encounter homelessness.

Southend Council currently has 1,472 households on its register - 520 are single people requiring one bed homes or a studio flat.

There are 61 couples requiring one-bed properties.

And the remainder are families requiring two or more bedrooms.

Once the council buys the homes and turns them into social housing the plan is to rent them out and achieve a “revolving investment fund”.

This will finance a range of other housing projects, including building extra council homes and potentially more properties.

Mr Gilbert added: “The need for social and affordable housing is greater than ever and while good work has been done to address it, with people on the council housing list recently moving into brand new homes in Rochford Road, for example, we need to go further.

“I am delighted that £4.3m will be used to purchase properties on the private market to use for council housing.

“Revolving investments funds are used by other local authorities to fund housing and regeneration programmes and once we have a more detailed framework we will see if it can work for Southend.

“Being pro-active and planned means we are more able to respond positively and take advantage of the opportunities presented as the market changes.”

The cash comes from right to buy - the proceeds of council houses sold to tenants.