Covid-19: Housing

Lord Best Excerpts

Monday 18th May 2020 Lords Chamber

[Lord Greenhalgh]

My understanding is that the consultation is with the Secretary of State and we hope to get it out as soon as possible.

[Lord Best (CB)]

My Lords, the Minister will have noted the predictions of property economists that prices of land and property could fall by 10% to 30% in the year ahead. Does he agree that, rather than see speculators and foreign investors snapping up stalled developments and cheaper sites and properties, this is the moment for government to back social housing providers to buy and to build to achieve the 100,000 homes a year so badly needed by those who cannot buy and who struggle with private sector rents? That includes the essential workers, nurses, social workers and bus drivers on whom we now utterly depend but whose housing needs we have so neglected.

[Lord Greenhalgh]

The noble Lord is right that we must ensure that we have housing of all types and tenures, including affordable housing for key workers, as he outlined. I note that the affordable homes programme for the next five years is £12.5 billion—that is greater than the amount for the previous programme of £9 billion. We should ensure that building of more affordable housing can begin and that such housing is not for people who have not made their contribution to this country. There are ways of ensuring that we do that. I thank the noble Lord for his question.