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This paper reviews the mechanisms by which the British government has introduced private finance into the provision of housing for lower-income households. It clarifies the range of measures that have allowed transfers from social to private ownership, both into owner-occupation and to independent landlords. However, the main thrust of the paper is an examination of the approach to introducing private finance into new social provision undertaken by housing associations. It examines the range of institutions that have been prepared to provide finance, the terms and conditions on which funds have been made available and the impact that private funding has had on associations' operations and viability. Finally, the paper assesses the condition under which it has been possible to fund social housing through the private market and some of the concerns that this raises for future funding possibilities.

Recent housing policy debates in the UK have shifted away from discussion of housing need to more market-oriented analyses of affordability. This article discusses the principles that lie behind the concepts of need and affordability and the ways in which they have been defined. It then traces the development of policy and debate in the UK with respect to both need and affordability. In particular it discusses the different ways in which policy is specified in different tenures and the extent to which implementation depends upon administrative allocation mechanisms. It concludes that up to the present time the shift in emphasis is more one of rhetoric than of reality and, more fundamentally, that the forms in which current policies are implemented bear very little relationship to those suggested by analysis of basic principles.

For many younger and lower-income people, housing affordability continues to worsen. Based on the academic research of two distinguished housing economists - and stimulated by working with governments across the world - this wide-ranging book sets out clear theoretical and empirical frameworks to tackle one of today's most important socio-economic issues. Housing unaffordability arises from complex forces and a prerequisite to effective policy is understanding the causes of rising house prices and rents and the interactions between housing, housing finance and the macroeconomy. The authors challenge many of the conventional wisdoms in housing policy and offer innovative recommendations to improve affordability.

This book provides evidence on how housing finance markets developed across Europe. The objective of the text is to bring together up to date material from across Europe which will help to clarify (i) how national housing finance markets have dealt with the challenges of deregulation and privatisation since the 1980s,(ii) how the financial crisis has impacted on the structure of the industry and the range of financial instruments available, (iii) how governments and the EU have responded to increasing risks and higher indebtedness in most West European countries and the need to grow new finance markets in Eastern Europe, and (iv) how changing housing finance markets impact on the capacity to provide adequate affordable housing into the future

Front Matter -- Introduction / Sarah Monk, Christine Whitehead -- Section A: What is Intermediate Housing?. Part Introduction -- Intermediate Housing Tenure ²́⁶ Principles and Practice / Christine Whitehead, Judith Yates -- International Experience / Kathleen Scanlon -- Section B: Measuring the Problem. Part Introduction -- Methods for Estimating Need for Intermediate Housing / Alan Holmans, Sarah Monk -- Modelling the Take-Up of Low-Cost Home Ownership / Alex Fenton -- Section C: Securing Intermediate Housing. Part Introduction -- Intermediate Housing and the Planning System / Tony Crook, Christine Whitehead -- Securing Key Worker Housing through the Planning System / Nicky Morrison -- Section D: Who Benefits from Intermediate Housing?. Part Introduction -- Different Tenures, Different Households? / Youngha Cho, Christine Whitehead -- Targeting Groups: Key Workers' Needs and Aspirations / Kathleen Scanlon -- Shared Ownership: Does It Satisfy Government and Household Objectives? / Anna Clarke -- Working with Government Policy in the East of England: A Case Study of Implementation / Sarah Monk -- Section E: Intermediate Housing and the Economy. Part Introduction -- Intermediate Housing Products and the Housing Cycle / Michael Jones -- The Impact of the Economic Downturn on Low-Cost Home Ownership in the UK / Gemma Burgess -- Conclusions / Sarah Monk, Christine Whitehead -- Appendix 1: The products -- Appendix 2: Defi nitions of intermediate housing for use in negotiating planning obligations -- References -- Index.

The movement away from traditional rented approaches to meeting the housing needs of those on modest incomes has taken on new momentum in the latest economic cycle.€. This book answers some of the questions around affordable housing and low cost home ownership, and whether these intermediate tenures have the potential to play a longer term role in achieving sustainable housing markets. The editors clarify the principles on which the development of affordable housing and intermediate tenures has been based; analyse the policy instruments used to implement these ideas; and make a preliminar.

Swedish housing policy was dramatically changed during the 1990s. A traditional formally tenure-neutral and generous subsidy system has been replaced by much lower levels of assistance, more directed at lower-income households and depressed areas. This paper sets the Swedish policy in an international context as part of a much more general pattern of reduced and rebalanced expenditures associated with liberalisation and the transfer of risk. The paper then addresses the direct and indirect impacts of the Swedish 'grand restructuring', concentrating on the extent of the cutbacks; rents and prices; levels of output; and the potential for increased segregation. The evidence suggests that the policy changes, together with their effect on expectations, significantly modified the housing system. They reduced demand for new building, particularly in less-pressured areas; increased vacancies, especially in the social sector; transferred risk to both the social and private sectors; and increased outcome differentials between the well-off and those with fewer resources—both in terms of individuals and areas. The analysis presented here provides evidence against which the Swedish policy can begin to be evaluated. It also suggests lessons for other industrialised economies that are addressing similar issues.

The paper applies the 'characteristics' approach developed with respect to the labour market in order to examine why the percentage of households who rent privately varies across the country. Regression analysis is used to show that the distribution of private renting is closely related to the distribution of particular household characteristics and that the relationship varies systematically between sub-sectors. Certain local market factors are also shown to be important, particularly with respect to the furnished sector. Within a given urban area the relative size of the rented sector appears to be even more strongly related to household characteristics. Certain implications for spatial policy are then discussed.