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Will an increase in social housing hold back the UK property market?

Leaks from the UK Treasury are suggesting that the UK government is set to put aside significant funding for social housing across the country. However, while there is no doubt that demand for social housing has never been higher, with more and more homes being repossessed and families thrown onto the street, there are concerns this could impact on the short to medium term potential of a property market recovery.

However, social housing is more of a necessity than ever before at this point in the economic cycle with more and more families unable to fund their own housing arrangements and a great number stuck in the negative equity trap with substantial debts still to pay off. The increase in social housing will be accompanied by a substantial and long-term rise in social service benefits and an ongoing reduction in UK tax income for the UK government. This is something of a short-term nightmare scenario for Alistair Darling who will be forced to fund social housing, which will then increase the burden on the state as more and more people look to get back on their feet.

The medium to long-term picture for the UK is starting to improve but the short-term picture is still very difficult with significant investment required in many areas of society although less and less funding is available.

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