Proposals made in the Green Paper on housing indicate that social housing schemes, ‘council houses’ as we may more easily understand, are on their way back. It has been commented that the stock of social housing has been eroded over the period of 20 years of the council house ‘right-to-buy’ scheme.
The report also claims that the social homes have fallen into disrepair. The report promises to provide at least 45,000 new social homes a year by 2010/11 and has a goal of 50,000 new rented homes a year. There are also pledges of more than 70,000 more affordable homes a year by 2011.
Our view
The Tory Government essentially offloaded all of the property that they did not wish to repair, and the shortage is here. The current Government will now look to private investors to help build these properties and again leave it to the private sector to run them. We believe this will start another 20 year cycle of state housing which will then be sold back to the unknowing public in a few years.
We do not believe the new homes will be of the same quality as the council homes built in the 50’s and will be passed on at an even faster rate. Not a good investment.
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