Displaying items by tag: sale of houses

Birmingham City Council is facing heavy criticism for its decision to sell off 755 homes built for the 2022 Commonwealth Games at an estimated loss of over £300 million. The council, which declared itself effectively bankrupt last year due to a financial crisis, cited 'challenging and volatile' market conditions as the reason for the sale. Despite the city's acute housing shortage, with over 23,000 households on the waiting list for council accommodation, they have remained empty since their completion in 2023. The decision has been branded a 'scandal' by local MP Ayoub Khan, who argues that the homes should be retained for social housing to alleviate homelessness rather than sold at a significant loss. The council's report acknowledged the financial burden this sale would impose, leaving £142m-£152m of debt unpaid and adding further pressure to the city's strained finances. The Government has ordered the council to explain why the homes were left empty for so long, as calls grow for intervention to prevent the sale. See