Social finance evolution

Article Abstract:

The 1988 Housing Act in the United Kingdom made housing associations responsible for rasing money from private lenders to fund new house building. Housing associations have been able to raise around 10 billion pounds sterling since 1988. In 1996, 30% of the loans were paid on a fixed rate and 59% were loans with variable interes. The government has reduced the housing grant to 56% for 1997-1998 which may necessitate rent increases for housing associations tenants. Housing association loans may only be around 800 million pounds sterling in 1997, causing lenders to leave the market.

Finance, Housing policy, Housing authorities

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Public inquiry: Peckham Partnership

Article Abstract:

Southwark council in London, England, is acting as a housing developer within Peckham Partnership. Recent work has included the redevelopment of five dilapidated estates, at a cost of 260 million pounds sterling. Considerable attention has been given to social issues, including ensuring that rents remain within reasonable parameters and achieving a mixed community, with a number of different landlords and a large proportion of home ownership. Redevelopment work focused on rental housing initially, but work will begin on the first homes for sale in Jan 1998.

London, England, Remodeling and renovation, Planned communities

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Launch pads

Article Abstract:

There is a need to develop central urban sites in the UK for private rented housing, according to Joseph Rowntree Foundation Director Richard Best. This is because there will be a particularly strong rise in the number of single person households. The Joseph Rowntree Foundation wishes to promote strong mixed communities in inner city areas. Best regards the private rented sector as the ideal driving force for innovation, as it is in a position to take risks. He believes that it is possible to achieve returns of between 6% and 7%.

Social aspects, Officials and employees, Interview, Urban renewal, Charitable trusts, Rental housing, Best, Richard

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