Homes built outside Wolverhampton will fund ‘difficult’ city projects

Profits from housing developments outside Wolverhampton could be used to pay for “more challenging” schemes within the city, according to papers set to be rubber stamped by the city council.

Council-owned developer WV Living has raised its housebuilding targets by more than 300 homes over the next five years, part of a strategy to boost the city’s housing supply with more than 600 homes by 2031.

But as part of the plan, the firm says it needs to buy up sites in neighbouring areas due to a lack of development land in Wolverhampton, with the surplus set to be ploughed back into the city.

“Land availability in Wolverhampton is extremely restricted. Therefore, WV Living has looked to purchase a limited number of sites in neighbouring authorities to maintain a viable development pipeline to enable funding of more challenging development opportunities within Wolverhampton,” said the report, due to go before City of Wolverhampton Council’s cabinet on 27 May.

Sites under consideration will come from 13 neighbouring authorities which make up the Greater Birmingham and Black Country Housing Market Area.

Profits generated outside the city by WV Living will be ring-fenced for subsidising developments within Wolverhampton in order to ensure it remains complaint with borrowing rules.

The council-backed company has access to local authority finance facilities to fund its developments – but must prove the scheme provides a benefit to the area.

A total of 88 houses are planned to be built on “enabler” sites outside the city, part of WV Living’s broader target of building 623 homes over the next five years.

The firm has already built around 600 homes in Wolverhampton and surrounding areas since it was established in 2016, most recently at the former Coseley swimming pool, and a larger scheme at Lakefield Road in Wednesfield.

It returned a profit of £285,000 in 2025-2026, a fifth consecutive year of surplus.

The report will be discussed at a meeting of City of Wolverhampton Council’s Cabinet on Wednesday, 27 May.

A live webcast of the meeting can be accessed via the city council’s online meetings portal.