(6 years, 8 months ago)
Commons ChamberI thank my hon. Friend for her informed intervention. My very next sentence was going to address that point. If something is already expensive, making it 80% of expensive is still expensive. That is where we find ourselves.
My hon. Friend mentioned right to buy. Some of the right-to-buy houses that were originally bought by their renters have now been sold on, often to landlords. Some of those properties are not in the best condition and on many estates they are the ones that really stick out, often because rogue landlords are not looking after them.
I thank my hon. Friend for his timely intervention. He is of course absolutely correct. One issue we have had over recent decades is that so much of this property has fallen into the hands of landlords and others, the investment has not been made, and they are now charging extortionate rents. Had it been left to local authority provision, those renting would be able to afford the properties more readily.
Organisations that bid for Government grants were told to re-let homes for low-cost social rent at the new so-called “affordable rent”. It is now estimated that 150,000 homes for social rent have been lost in the past five years. More recently, the Government proposed to add to the sell-off by extending the right to buy to housing association tenants, funded by an extraordinary forced sell-off of council housing to the highest bidder.