LETTING & ESTATE AGENT

Social Housing in Trouble

Social Housing in Trouble
Town hall leaders believe 88,000 properties in England will be lost to social housing in the next ten years, forcing more people into the private rental sector. The Local Government Association believes 66,000 council homes will be sold to tenants under the Right To Buy scheme - but without the means to replace the lost properties. investment The number of council homes fell from 5m in 1981 to just 1.7m in 2014, which partly explains the huge increase in private renters in that time. As such, predictions that rents will rise, and people will flock to the private rental sector, may well be accurate - at least in terms of those living in social housing. Furthermore, landlords will likely have to increase rents to deal with the stamp duty levy.
Source: Independent