In a move that could provide relief to distressed buy-to-let landlords, Siân Berry MP has proposed a policy that may help address the UK’s dwindling social housing stock. The Labour politician has long advocated for a scheme she calls “buy the supply,” which would see councils given the funding to purchase suitable properties on the open market.
This approach, Berry argues, could enable local authorities to quickly boost their housing portfolios without the risks and delays associated with new construction projects. By snapping up homes that are put up for sale, or even buying back properties sold under the right-to-buy scheme, councils could create much-needed social housing near existing amenities like schools, parks, and healthcare facilities.
The call for action comes in response to recent reports suggesting that UK landlords are being “pushed out of the market,” with some facing financial difficulties. While Berry acknowledges the plight of these property owners, she believes her proposed policy could offer a solution that benefits both distressed landlords and the wider community.
“If some landlords are feeling the pinch, a policy I have long pestered the government about is, by chance, tailor-made to help them,” Berry wrote in a letter to The Guardian. “We need to replenish our decimated social housing stock, and part of the answer is what I call ‘buy the supply.'”
The idea of councils purchasing private properties to bolster their social housing offerings is not a new one, but it has gained renewed attention in the face of the UK’s ongoing housing crisis. With home ownership increasingly out of reach for many, the demand for affordable, council-owned accommodation remains high, particularly in areas where property prices have soared.
Proponents of the “buy the supply” approach argue that it could provide a win-win scenario, allowing landlords to exit the market on favourable terms while simultaneously increasing the availability of social housing. However, the feasibility and cost-effectiveness of such a scheme would likely depend on a range of factors, including the state of the local property market and the availability of funding for councils.
As the government continues to grapple with the complexities of the UK’s housing landscape, the proposal put forward by Siân Berry MP could represent a potential solution that merits further consideration and debate.
