London’s prime rental market tightens as landlords leave
1 year ago | 1 comments
London council buys another 193 ex-council homes to combat homelessness
12:01 AM, 9th April 2025, 1 year ago
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A London council has announced plans to purchase 193 former council homes as it tries to combat a growing homelessness problem in the borough.
Islington Council says the move brings it closer to its target of securing 907 residences by March 2026 – this is one of the most ambitious buy-back schemes in England.
These newly acquired properties will provide secure housing options for homeless families in Islington, as well as individuals displaced from Afghanistan and Ukraine.
The portfolio will feature a variety of one- to four-bedroom units suitable for both single occupants and larger households.
Homes provide security
The council’s executive member for homes and neighbourhoods, Cllr John Woolf, said: “There are currently 1,737 homeless households living in temporary accommodation in Islington – the highest figure since records began.
“These homes will provide security for people experiencing homelessness or those who have fled conflict, giving them the stability they need to start rebuilding their lives locally.”
He added: “More people will have access to good-quality temporary accommodation in Islington when they need it most.
“I’m proud that we are leading the way with our buy-back programme and doing everything we can to increase the number of council homes in the borough.”
Sold under RtB
Islington says that the homes were originally council-owned but had been sold off under the national Right to Buy initiative.
The funding for these acquisitions includes support from the Greater London Authority (GLA) for 150 homes.
The Ministry of Housing, Communities and Local Government (MHCLG) is helping to buy 33, and an extra 10 homes are being financed through the council’s own Right-to-Buy revenues.
Over the last four years, 552 homes have been reclaimed, with 307 of those transactions completed in just the last year.
Tags:
affordable housing London, council home buy-back, homelessness UK, islington housing, London, London Housing Crisis, refugee accommodation, right to buy scheme, UK council properties
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Member Since October 2022 - Comments: 28
10:12 AM, 9th April 2025, About 1 year ago
Homes for British first
Member Since April 2021 - Comments: 94
10:59 AM, 9th April 2025, About 1 year ago
There is no accountability for the tax funding spent on such schemes. Spending millions to buy stock in the most expensive area in the UK in order to house homeless cannot be justified.
Member Since September 2018 - Comments: 3515 - Articles: 5
11:55 AM, 9th April 2025, About 1 year ago
Reply to the comment left by Andy at 09/04/2025 – 10:59
certainly not when there are EXISTING council owned properties lying empty or offices unused that could be purposely reutilised first.
Read the small print – they want to obtain them for Temp accommodation purposes only. So where will they be moved to after this? Or will temporary really become permanent because there is no where else to move them to permanently? Temp accom = less regulation over standards than properties in the PRS, or even the social sector itself so basically another timebomb waiting to detonate as councils can’t look after their own general housing stock as it is.
It also means they can then go cap in hand again for grants from the government for the different between the LHA rate and the cost of the temp accommodation being provided.
The taxpayer first funded the right to buy scheme, is now funding the buy back, and then will have to fork out for the cost of actually housing that person/family.
Member Since March 2020 - Comments: 188
12:12 PM, 9th April 2025, About 1 year ago
A local Estate Agent told me the other day that they’re handling such purchases. It’s a good idea and cheaper for the Councils as they know the history of the properties. Also the private owners may have done some necessary renovations. However, it shows the stupidity of the Right To Buy scheme.
Member Since September 2018 - Comments: 3515 - Articles: 5
2:37 PM, 9th April 2025, About 1 year ago
Reply to the comment left by Helen at 09/04/2025 – 12:12
buying from private owners will command higher prices if they are in ‘move in ‘ condition.
I don’t suppose they are not bothered either if an EPC C is unachievable even if Comrade Red Ed is on the NZ warpath? Course not….the standards for temp accommodation are far below that of social accommodation….. and as we all know EVERY rule is different for councils…
Member Since March 2023 - Comments: 1506
11:57 AM, 10th April 2025, About 1 year ago
Actually, this is what councils should be doing – will save them a lot of money, even in the medium term
Member Since September 2018 - Comments: 3515 - Articles: 5
3:30 PM, 11th April 2025, About 1 year ago
Reply to the comment left by GlanACC at 10/04/2025 – 11:57
save WHO a lot of money???
Member Since March 2023 - Comments: 1506
4:36 PM, 11th April 2025, About 1 year ago
Reply to the comment left by Reluctant Landlord at 11/04/2025 – 15:30
Save the council (aka ratepayer) a lot of money – obviously cheaper than hotels or renting from private landlords – even though I am a landlord its a good money saving idea
Member Since September 2018 - Comments: 3515 - Articles: 5
6:27 PM, 11th April 2025, About 1 year ago
Reply to the comment left by GlanACC at 11/04/2025 – 16:36
193 units ranging from one- to four-bedroom units suitable for both single occupants and larger households.
All to be rented at social levels or ‘affordable’ (80% market rate) I presume?
AI Overview
The average price for a one-bedroom flat to buy in Islington is around £632,469. This price is based on the average flat value in Islington, as of today.
The average rent for a one-bedroom flat in Islington, London is around £2,300 per month.
For a £2300 PCM flat, an affordable rent level would generally be considered around 30% of your gross monthly income. This means you’d need a gross income of roughly £7666.67 per month to comfortably afford this rent. However, some sources suggest a slightly higher percentage, like 35-45% of your take-home pay, depending on location.
The Local Housing Allowance (LHA) for a one-bedroom flat in Islington for 2024 is £331.39 per week.
AI Overview
The average price of a 4-bedroom house in Islington, London is around £770,000. However, prices can range significantly, from around £1,150,000 to over £3,000,000 depending on the location, condition, and features of the property.
The average monthly rent for a 4-bedroom house in Islington, London is around £5,200 to £8,450 per month. This translates to approximately £1,200 to £1,950 per week.
The LHA rate for a 4-bedroom house in Islington is £704.22 per week.
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The councils wont be able to even maintain them if they rent at these levels, yet they are buying them for use by the homeless and families from Afghanistan?????
Member Since March 2023 - Comments: 1506
6:43 PM, 11th April 2025, About 1 year ago
Reply to the comment left by Reluctant Landlord at 11/04/2025 – 18:27
Your looking at it from the point of view of a landlord, councils don’t take that view. They also have different budget and cost centres so the initial cost of the property is a long term asset not associated in any way with the rent — and I bet they are paying far more than LHA for ‘temporary’ accommodation.