Research shows hundreds of ex-council tenants had the
opportunity to become millionaires – at least, those buying at the right time
in London had that opportunity. Figures show that the average amount paid for a
home in the capital in 1996 was £79,000 but that by 2016 it had soared to
almost £489,000. And social housing tenants could receive a discount back then
on their purchase depending on how long they had lived in the property – up to
60% for house and 70% for a flat. In a Clarendon Place, Westminster – a
three-bedroom flat was bought for £180,000 in 1995 and is still owned by the
same person. Similar properties in the block have sold recently for £2.25m and
£1.8m. Read more on 24housing.
Against Landlords by Nick Bano review – valuable ideas for how to solve
Britain’s housing crisis
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In this flawed but powerful book, a housing lawyer argues that an abundance
of private landlords, not a dearth of homes, is to blame for the miseries
of ...
7 hours ago
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