The funding model for social housing is broken and must be changed if housing associations are to continue providing affordable homes, according to an influential think tank. A report from the Smith Institute warns the prospects for affordable housing development as the government cuts the deficit are the worst for a generation. It calls for a new, viable development model to attract private funding. It suggests the government allows social rents to rise to subsidise future development, and to reform housing benefit so that a ‘stable and reasonable’ housing allowance is paid directly to landlords. The report also calls for incentives to build housing for market rent, so that developers build the most homes possible, with the lowest grant rates possible. Download a copy of the report, Rhetoric to Reality, from the Smith Institute website.
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