Councillor Linda Smith, cabinet member for housing and communities, said: “Government borrowing restrictions back in 2015 meant we wouldn’t have been able to deliver Barton Park without putting the affordable homes in the care of our housing company, OX Place.

“This measure is no longer needed and it’s now time to formally bring the affordable homes in Barton Park under the council’s direct ownership and control.

“This is a good thing for everyone. Tenants will still be paying social rent and get more rights.

“OX Place will be free to focus on building high quality affordable homes.

“The [housing revenue account] will gain more than 350 new homes and the rent their tenants pay will make a valuable contribution to our plans for delivering more council homes and improving our existing properties.”

The authority said the plans would represent “a significant boost” to the current asset base of about 7,800 council homes.