A scheme to transfer more local authority housing to registered social landlords has been given the go-ahead by housing minister Sally Keeble today.
Under the deal, up to 328,000 residences will be transferred from a further 27 local authorities, subject to the approval of their tenants.
Replying to a written question in Parliament Keeble said that the “local authorities will be able to proceed in 2001/02 with proposals to carry out 32 transfers of all or part of their housing stock to registered social landlords.”
The move will generate around £1.1bn in revenue for the authorities.
Since 1988, 117 local authorities have transferred all or part of their housing stock to new landlords. Over 580,000 dwellings so far have been transferred, generating over £4.4bn in capital receipts and raising over £9.2bn of private finance.
EGi News 22/06/01
