Call for expensive council houses to be sold - Mortgages - News |

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Call for expensive council houses to be sold

Call for expensive council houses to be sold

Category: Mortgages

Updated: 20/08/2012
First Published: 20/08/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

Compare the best mortgage deals

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.