Construction lobby group, the Modern Masonry Alliance, is calling on the Government to forward finance right-to-buy receipts to start work immediately on building 25,000 homes for affordable rent.
The Government yesterday unveiled plans to revamp right-to-buy by offering discounts of up to £75,000 on council-owned properties.
The Prime Minister said he was “re-booting” Margaret Thatcher’s flagship right-to-buy scheme after sales dropped to 3,700 last year from a peak of 84,000 a decade ago.
Cash raised will be poured into home building, with all sold properties replaced with new affordable homes for rent.
Mike Leonard, director of the Modern Masonry Alliance said: “It is vital receipts are ploughed into new housing if we are to avoid reliving the mistakes of the past and help the 5 million people who are on the waiting list for a new home.”
He warned there was an urgent need to build 25,000 additional social homes for rent in the next 18 months.
“With a £75,000 discount housing minister Grant Shapps will be doing plenty of business – so let’s get on with building the replacements now.”
“If we do this, it will deliver the kick-start for economic growth we so badly need and provide jobs for our young and older work force who are fast becoming disenfranchised from our society.”