THE establishment of a council-backed housing company could be approved within the next two weeks after years of talks.

Winchester City Council’s proposals are set to finally come to fruition if they are backed by cabinet members on Wednesday (September 18) and full council seven days later.

As previously reported, the company would be completely owned by the council and it would aim to deliver and manage rented and shared-ownership homes to assist residents who are finding it difficult to get on the property ladder.

A report to cabinet says it is envisaged the company will be incorporated next month.

It adds: “It will function as an ethical landlord, providing a more secure offer than the private rented sector currently delivers.”

Financial backing of £10million for the company had already been agreed by the council.

Backing for the establishment of the company was given by councillors at an overview and scrutiny committee in March.

At that meeting, Cllr Eileen Berry said: “I have absolutely no problem with this, it is so needed.

“We are giving people, and young people, a chance to have a home they can afford.”

Earlier this year the local authority increased its housebuilding target from 600 new council homes by 2028 to 1,000.