Spending cuts to hit social housing
The Comprehensive Spending Review brought mixed reactions from property professionals.
Social housing suffers most with budgets cut by 50 per cent and a scrapping of the council houses for life policy for new tenants.
Tenants will be charged nearer the going market rate for rents, to raise cash for 150,000 affordable rented homes.
Chartered Institute of Housing chief executive Sarah Webb says: “Although we are pleased to see spending held for the Supported People programme, Disabled Facilities Grant and homelessness services, the cut to the new building programme down to £4.4bn over four years – will have a major impact.”