Council home eligibility means private rented sector is likely to boom
Local councils across the country are expected to announce new measures to tackle the 4m strong waiting list for council properties; meaning a wave of demand in the private rented sector is imminent.
Hammersmith & Fulham council has led the way, announcing that couples earning over Â£40,000 a year will no longer be eligible for a council property, which has gone much further than housing minister Grant Shappsâ€™ suggestion that those earning over Â£100,000 should be not eligible. And other local authorities are expected to follow suit.
This burst of activity is in response to the Governmentâ€™s new legislation which has seen an end to tenancies for life, affording local authorities more flexibility when dealing with waiting lists.
As aÂ property investment groupÂ which focuses on refurbishing distressed or repossessed properties and providing property to those most in need,www.http://thehousecrowd.com/thehousecrowd/Â is already poised and ready to meet this surge in demand from those no longer eligible for a council property.