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Housing Today
Trusted media brand of the Chartered Institute of Housing
Loss of social homes cost UK economy £25bn last year, new report finds
Research estimates that social housing tenancies contribute over £70bn per year to the economy. This contribution could be even greater if 1.4 million social homes had not been lost to disposals, conversions, and the Right to Buy scheme.
The English economy lost out on £25.25bn in savings last year due to the 1.4 million social homes lost through Right to Buy, disposals and conversions since 1979, a new report by research consultancy Sonnet has found.
The figure is based on the average value brought by a social tenancy, which was estimated to be at least £18,051 in 2023/24.
The research, commissioned by Hyde and five other housing associations, revealed that overall, England’s 4.2 million social homes contribute at least £77.7bn a year to the economy.
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