This years UK Housing review has emphasised the figures from the Chartered Institute of Housing (CIH). They have exposed that the government is investing a whopping £42bn in the private market.
However only £18bn will be invested into the affordable housing sector, that’s only 30% of the total investment being made on houses.
Due to this the CIH have sworn that this means,
“Investment in affordable renting will fall to its lowest levels since the Second World War.”
Also mentioned was that by 2020 only 12% of the new homes built will be affordable housing or rented homes.
By 2020 there is also some evidence to suggest that there will be a:
- • 9% loss in housing association properties let at social rents
- • 9% loss in council properties let at social rents
The above two points resulting in 350,000 social rented houses being lost if investment in the future isn’t met.
The Chief Executive of CIH, Terrie Alafat, has the following to say about the matter:
“We need housing policy for the 25-30 per cent of the population who will never be able to afford to buy a home of their own.”
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