Thirty new homes for local residents have been officially unveiled in Deddington.
Social housing provider Stonewater has been working with housebuilder David Wilson Homes and Cherwell District Council to provide a mix of houses for affordable rent and homes for shared ownership.
Priority in allocating the affordable homes will be given to those who already have a connection with the local area.
Chris Montague, Stonewater assistant director of development, east said: “At a time when the average person in the Cherwell district would need a 153 per cent pay rise to afford an average home, more and more young people and families who have grown up in the town are finding themselves forced to move away to find a home they can afford.
“Locals looking to rent are also being priced out, with the average rent eating up well over a third (37 per cent) of their earnings. This has a devastating impact on the sustainability of town shops and local services which is evidenced by the closure of 31 post offices across the region in the past five years and 217 pubs closures between 2013 and 2016.
“These new affordable homes at Banbury Road are a great example of how housing associations can work together with developers and local authorities to tackle this problem, through building good quality homes that local people can truly afford. These homes however, have to be the right type of housing, in the right location, to stimulate growth, diversity and long-term prosperity.”
The new homes are part of the 85-home Deddington Grange development, which includes a children's play park.
Monica Burns, external affairs manager for rural housing at the National Housing Federation, said: “Far too few homes are being built for local people and villages are dying as a result.
"Young people are moving to cities and often house prices are rocketing. Right across rural England, schools are shutting their doors to pupils. Post offices, which provide vital community services, are closing at a similar rate and countless pubs are serving their last ever orders to locals.
“It’s therefore very welcome news that housing associations like Stonewater are stemming this tide by building the new homes local people desperately need.”