Luxury Mayfair flats, worth more than £1m, are being let at just £153 a week, because they are designated as ‘affordable housing’.
Research by the Sunday Times identified 10 properties owned by the Peabody houing association with flats worth between £1m and £2.2m. One Housing said that it had 750 flats worth more than £1m.
The Sunday Times asks whether the housing associations should be forced to sell these luxury assets and invest in more, cheaper accommodation. One Housing’s chief executive, Mike Sweeney, said that such a proposal amounted to ‘social cleansing’.
Sunday Times, 9
