Temporary accommodation spending highlights UK property concerns

[Nicholas Wallwork]

Data obtained by the BBC has cast a very interesting light on the UK property market and in particular money spent by local authorities on temporary accommodation. The information shows that more than £3.5 billion

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[Longterminvestor]

This really is a “chicken and egg” situation for local authorities. They don’t have the funds to invest in new build properties but they need to find the funds to pay for temporary accommodation. It will probably need a significant funding boost from central government to get past this issue?

 

[nmb]

It is quite simply down to central government to significantly increase investment in new builds which should slowly see a reduction in temporary accommodation costs. Can central government and local authorities actually work together for once?

 

[PostBrexitInvestor]

Years and years of underinvestment in the UK property market is now coming home to roost. As the ever-growing cost of temporary accommodation bleeds money from housing budgets, how on earth will the UK authorities be able to catch up on newbuild investment?