Selling expensive council homes when they become vacant would raise billions of pounds a year and create new jobs, the think tank Policy Exchange has claimed.
According to its research, the sale of 'high end' council homes would raise approximately £4.5 billion a year and fund between 80,000 and 170,000 new homes for people on the housing waiting list. The move would also create new jobs in the building and housing sector in the process.
Alex Morton, author of Policy Exchange's report, said: "Expensive social housing is costly, unpopular and unfair. That is why almost everybody rejects it.
"Social housing tenants deserve a roof over their heads, but not one better than most people can afford, particularly as expensive social housing means less social housing and so longer waiting lists for most people in need."
The National Housing Federation, which represents housing associations, has opposed the idea, warning that such moves could result in a form of social cleansing.
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