Councils will demolish thousands of homes to slash the amount of debt they take on under the imminent reform of the housing subsidy system. Some authorities have drawn up plans in a matter of months this year to knock down hundreds of homes for financial gain. Other councils have fast-tracked proposals. They have acted because of an in-built ‘demolition deadline’ in plans to scrap the housing revenue account. Under the system the majority of town halls in England will take on a share of the existing £21 billion national housing debt based on the number of properties they own. But stock set to be demolished before 2017 will not be included in the calculations - providing a sizeable financial incentive to demolish. It is understood the number of homes councils told the CLG they will demolish exceeded its expectations. Nottingham and Birmingham councils have drawn up some of the most eye-catching plans - proposing to flatten more than 2,000 homes between them. Read more on Inside Housing.
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