Highest Social Housing Investment In Fifteen Years To Be Lost

Deep cuts to the housing budget expected from 2011 threaten to jeopardise the excellent progress that was being made in housing policy during this spending period with high levels of investment and high priority placed on housing as a key driver of economic recovery, according to the Chartered Institute of Housing (CIH).

The new UK Housing Review 2009/10, the authoritative guide to the UK housing market to be published on 17 December, identifies 2008/9 as the highest point in gross social housing investment for fifteen years with over £8.9 billion invested across the UK.

The Review also suggests that, taking into account private finance for new housing association dwellings and stock improvements by stock transfer landlords, the overall investment provision in social sector housing across the UK is now higher than at any time since 1980, with the sole exception of 1989/90, when investment spiked buoyed by high levels of right to buy receipts.


Richard Capie, CIH Director of Policy and Practice, said: "While the boost to investment in housing which is currently taking place has been very welcome, the outlook from 2011 looks bleak. At this most recent peak and in favourable conditions we built 207,000 market and affordable homes. The government's own figures said we needed to build 240,000. With more and more families struggling to either buy or rent the need for new homes is all the more pressing.

"It is important both for those in housing need and for the housing industry to have a sustained drive to produce more affordable housing over several years, to address high levels of demand. We hope housing professionals will support CIH in the coming months, as we approach the next election, to send a loud and clear message to all politicians of the need to maintain their commitment to investing in housing and exploring wider reforms of our approach to housing."

(CD/KMcA)