The group representing Britain's social housing industry is in talks with the Government to free £1bn of public money to help to bail out the new homes market.
The funds would be used to buy tens of thousands of mostly inner-city flats and family homes at a heavy discount from beleaguered housebuilders.
These properties were originally expected to be sold to private buyers but are now part-built or empty as the sector struggles to deal with the sharpest slump in sales for more than a generation.
The proposal from the National Housing Federation, the umbrella body for the UK's housing associations, is under consideration by ministers at the Treasury and the Department for Communities and Local Government.
The Times
No comments yet