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Right to Buy extension could affect viability of retrofits
Housing associations are looking closely at the financial implications of retrofitting homes to make them more energy efficient in the light of the extension of the Right to Buy.
At a session on fuel poverty at the Health and Social Care conference today, which runs alongside CIH Housing, Mark Henderson, chief executive of Home Group, said: ‘That’s something we’re actively looking at now. We are potentially investing in a property that could be sold on.’
Earlier in the day at a breakfast briefing, Orbit chief executive Paul Tennant said the extension of the Right to Buy might ‘dissuade us from investing’ in some units. The housing association has just agreed an £85m energy efficiency investment programme to improve 30,000 homes.
The proposed details of the extension of Right to Buy are yet to be finalised, but housing association chiefs said that while the sector waits to see how the policy plays out, it couldn’t help but raise questions about investment. ‘I’m not saying yes or no at this stage,’ Mr Henderson added, before reassuring the audience that he still wants the housing association to continue to invest.
‘There’s a morality to this too. We do need to have a care for our customers as well,’ he said.
