. . . and there will soon be even fewer ‘affordable’ homes
When one of the nation’s biggest housing associations announces it will not be building any more cheaper rented homes, you know something is going badly wrong.
With over 33,000 affordable homes on its books, the Genesis Housing Association has been an undisputed leader in the provision of social housing, so its decision to stop building affordable and social rented accommodation, and only develop properties for shared ownership, full market rent and outright sale, is worrying.
The announcement came in response to what its chief executive Neil Hadden, described as the Government’s “watershed budget”, introducing a range of measures to reduce social housing rents, give housing association tenants the right-to-buy for the first time, and refocusing Government housing budgets on home ownership.
“I believe this government is not particularly interested in producing affordable rented accommodation and I think that’s a big paradigm shift,” said Mr Hadden. “We are (no longer) being asked to provide affordable or social rented homes to people who (we are being told) should be looking to the market to solve their own housing problems.”
With other social landlords like high profile Notting Hill Housing, talking openly about developing more shared ownership property in place of cheaper social housing, the omens are not good.