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Up to 8,500 affordable homes at risk of standing empty
['Leah Milner']
Mortgage Strategy
Up to 8,500 Affordable Homes that are scheduled to be built over the next year are at risk of standing empty, the Home Builders Federation has warned.
Under these rules, local authorities dictate how many properties meeting the government’s Affordable Homes definition – meaning they will be offered at below market value – developers must build on each site.
However, the model relies on social housing providers’ financial ability to buy the properties.
Analysis by the HBF estimates that 900 completed Affordable Homes are currently standing empty, because social housing providers have yet to commit to buying them.
HBF chief executive Neil Jefferson says: “Against rising affordability pressures and increasing numbers of families living in temporary accommodation, it cannot be that Affordable Homes are left standing empty.