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Affordable housing being sold-off

July 30, 2010

Family Mosaic's two terraced houses are on sale for a cool £1.2 million

Caledonian Councillors have challenged a prominent Housing Association to explain why it is selling off two street properties in our ward. Family Mosaic owns two terraced houses on Gifford Street and is selling them both as a single lot on the open market for £1.2 million.

It is believed the two houses were once owned by the Council. They are subdivided into two flats each. Both have a 1 bedroom ground floor flat and a 2 bedroom maisonette at 1st and 2nd floor level. The properties were previously used to house tenants through Islington’s Supporting People programme and this funding has ceased.

Paul Convery says “These are two perfectly good houses which could be allocated to people on Islington’s housing waiting list. Selling these properties off will result in a net loss of affordable homes in the Borough, something which the Council is keen to avoid except in the most adverse circumstances. I have urged Family Mosaic to consider an alternative course of action, including reverting the houses back to the Council’s ownership”.

Paul says he has been “fairly circumspect” when discussing the management of these two houses because he lives just a few doors away on the same street. But he adds “selling both houses together on the open market is a bad choice for Family Mosaic not least because the most likely purchaser will be an investor in the multiple buy-to-let landlord business”

3 Comments leave one →
  1. July 30, 2010 4:19 pm

    it’s difficult when it’s your own street Paul, but then you are a key part of this community so issues on your own street are bound to come up from time to time… Just when we need all the affordable housing we can get cos we’re gonna need it in Islington perhaps more than most places, another so-called housing association goes for the easy cash… This is just crazy.

  2. Diana Shelley permalink
    July 30, 2010 8:22 pm

    The fact that the houses are being sold together seems to indicate they actually want to sell to a developer. Another Gifford St neighbour who contacted the estate agents to ask about the price of one house alone, as a family home, apparently got very short shrift.

  3. Laurie Cockburn permalink
    July 31, 2010 7:49 am

    It is a pity that affordable housing is being sold off as it is right and proper that affordable housing remains affordable.Saying that Islington Council has been selling off their affordable housing at an alarming rate and even as recently as July 2010 they sold 154 Tufnell Park Road N70dz for £702000 plus a premium for the council’s expenses.Over the last 5 years they have disposed of a large number of affordable units most of which were sent to auction at, Savill’s have also sold council property and most of the units have been in a very very neglected state.This raises a question of how the council look after their property (a lot have been Grade listed and the conservation officer should have brought the council to task,no easy thing when the council are paying the officer’s wages).
    Anyway I thought I would bring the situation to your attention.

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