Friday, 26 May 2017

Delivering Social Housing On A Budget

Between 2010 and 2015 local government faced upwards of £18bn in real terms cuts, losing on average 20% of its spending power. Meanwhile, social housing waiting lists are rising, local authorities are struggling to deliver their 5 year housing land supply and the Right to Buy uptake has overtaken the provision of new social housing. Faced with these problems, local authorities have increasingly turned to setting up arms-length commercial entities known as Housing Delivery Vehicles ("HDVs"). At their best, HDVs can allow public assets to be put to effective use to bring in revenue for struggling Councils and help to mitigate the housing crisis where there is a huge demand for affordable social housing that far outstrips supply. Read more on the Lexology website.

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