More than 165,000 of UK’s most affordable homes lost in six years
MORE THAN 165,000 of the most affordable homes have been lost in England in the past six years, according to new analysis by housing experts.
The Chartered Institute for Housing (CIH) forecast that the total loss of cheap social rented homes will hit almost 200,000 by the end of the decade. The charity called for the suspension of the right-to-buy programme, which it said was the main driver of the decline in affordable homes.
New figures from the Ministry of Housing, Communities and Local Government and Homes England show that a net total of 117,828 local authority homes and 47,869 housing association properties for social rent were lost between 2012 and 2018, said the CIH.
At current trends, the total will reach 199,000 between 2012 and 2020, the Institute said. As well as right-to-buy sales, low-cost rented homes are lost by properties being converted to “affordable rent” status or demolished.
Funding for social rental, which tends to be 30 per cent to 40 per cent below market rates, was cut by the Government in 2010, with funding targeted towards homes for “affordable rent” costing up to 80 per cent of private rental rates, said the Institute.
CIH chief executive Terrie Alafat said: “For many people on lower incomes, the only truly affordable option is social rent. It is simply unacceptable that we are losing so many of our most affordable homes at a time when more and more people are in need.
“We need to increase the number of homes we are building.
“But it’s not just a numbers game – we need to make sure we are building the right homes, in the right places, at the right prices.”
Calling for the suspension of right-to-buy, she added: “Not only are we failing to build enough homes for social rent –right-tobuy means we are losing them at a time when millions of people need genuinely affordable housing more than ever.
“We support the principle of helping tenants move into home ownership if that’s what they want, but it cannot be at the expense of other people in need.
“The Government should suspend right to buy to stem the loss of social rented homes, remove the barriers stopping councils from replacing homes sold.”