Local Authority Housing Stock Transfer in the UK: From Local Initiative to National Policy

Since 1988 stock transfer has been transformed from a local initiative into a central part of government policy for housing in the UK. It began as a largely rural and suburban phenomenon, generating substantial capital receipts, but has also become a vehicle for the regeneration of rundown urban estates. The trajectory of this process has continued to be rapid despite changes in government and devolution of housing policy in the late 1990s. This paper traces the development of the process in some detail, considering policy origins and antecedents, the emergence of national policy and its rolling out to embrace a wider range of circumstances. The impact of the policy is considered more briefly, reviewing the impact on the non-profit housing sector, on local authorities and on the key policy issues of rents and access to housing. Future prospects are reviewed in a concluding section.