Sell off expensive council houses, says think tank

Councils should sell off their most expensive houses and reinvest the money in building cheaper homes, the Policy Exchange think tank has said.

Selling top homes when they become vacant would raise £4.5bn a year, enough to build 80,000 to 170,000 new social homes, providing building jobs.

It says social tenants deserve a roof over their heads but not one that is better than most people can afford.

In its Ending Expensive Social Tenancies report, Policy Exchange argues the move could create the largest social house building programme since the 1970s - giving the economy a kickstart.

Critics say such a move would push the least well-off out of expensive streets, and into new ghettos.

Expensive social housing - which Policy Exchange defines as housing worth more than the average property in each region - accounts for 21.8% of the total social housing stock in the UK, it says.

The National Housing Federation National Housing Federation, which represents housing associations, says many towns would be "cleansed" of "hardworking people who can't afford to pay high prices".