"Its report, Ending Expensive Social Tenancies, says that properties worth more than the average house price for an area account for one in five of the social housing stock.
"The 816,000 homes have a total value of £159bn, with £71.9bn of that in London.
"Around 3.5 per cent of the buildings become vacant each year and, after debts are paid off, would raise £4.5bn."
- Alex Morton
Head of Housing, Planning & Urban Policy
- Ending Expensive Social Tenancies: Fairness, higher growth and more homes
20 August 2012
Selling expensive social housing as it becomes vacant could create the largest social house building programme since the 1970s. The sales would raise £4.5 billion annually which could be used to build 80,000-170,000 new social homes a year and create 160,000-340,000 jobs a year in the construction industry.