UK PRIME MINISTER PLEDGES A NEW RIGHT-TO-BUY PROGRAM ON SOCIAL HOUSING
- 16 May
While trying to speed up the rates of home building by local authorities and increase the availability of low-cost housing, UK Prime Minister Theresa May has pledged a new right-to-buy program for social housing.
The program is set to achieve the following;
- To offer councils and housing associations funding to build homes with help from the Homes and Communities Agency
- A fragment of the homes are to be sold after 10 to 15 years
- Tenants occupying the properties at the time would have the right to buy them
According to UK Prime Minister, Theresa May:
"Too many ordinary working families are stuck on council waiting lists, facing unaffordable rents and struggling to save for that first deposit.
"That's why we will fix the broken housing market and support local authorities and housing associations to build a new generation of council homes right across the country."
Labour's spokesman for Housing, John Healey, said:
"There's no commitment on the number of new affordable homes or on new funding."
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For more details, visit Business World Online.
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