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Exploring ideas

Moving towards tenure neutrality. Exploring ideas. Conference of The Isles 29 November 2013. Pete Redman Managing Director, Policy and Research. Why TradeRisks?. Financial advisors and capital market arrangers for housing clients

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Exploring ideas

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  1. Moving towards tenure neutrality Exploring ideas Conference of The Isles 29 November 2013 Pete Redman Managing Director, Policy and Research

  2. Why TradeRisks? Financial advisors and capital market arrangers for housing clients We want to increase financial capacity and reduce risk We want to maximise Social Enterprise Value Mixed tenure and tenure neutrality can strengthen balance sheets, increase sustainability, and improve social outcomes

  3. 1,000 unbroken years of UK landlord and tenant

  4. 1,000 years of UK landlord and tenant culture Power relationships between commercial, and agricultural landlords, and tenants have moved into balance But The status of residential tenants is low, particularly for social housing tenants

  5. Does mixed tenure bring benefits? There is no conclusive evidence that mixed tenure brings benefits to residents. There is no increase in lending cups of sugar to your neighbour Most, not all, people dislike large scale social housing estates Recent work on social mix, and on income mix, does, however, show increases in social capital, and increases in capital values

  6. Where’s the social housing?

  7. Small gardens - higher density - hard landscaping - hidden Social Rent Shared ownership Owner occupied

  8. Steps towards tenure neutrality Make all planning policy tenure blind Improve flexibility and recycling of capital subsidies Rebalance Right to Buy Maximise value added across the housing spectrum

  9. Where’s the social housing?    

  10. Right to Buy can distort ideas of worth

  11. Maximising value added?????? Type X

  12. Maximising value added?? Type Y

  13. Maximising value added  Type Z

  14. Could we have a single tenure? • A menu of rights and responsibilities distributed between: • Occupier • Service provider • Equity owner A • Equity owner B…………

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