Concerns raised about housing association selling houses during rental crisis

Concerns have been raised about housing association LiveWest selling homes in the South Hams during a local rental crisis, LiveWest say they are selling to "invest in our communities". 

Local resident Josh Gardner, Kingsbridge, raised concerns that LiveWest, which is a charitable community benefit society, is "selling houses as tenants leave", which Josh said "seems ridiculous with the shortage of rental properties". 

Josh said: "One [property being sold] in Kernborough, which has no houses as it is that are affordable, and another in Modbury is going to auction in December."

"Livewest is a charity so should be benefiting the area no matter what."

Everyone who lives in the South Hams is aware how difficult the housing market is at the moment. The average house price in the South Hams was £391,000 in August 2024, and the average rental costing £940.

A quick search on online estate agent Zoopla shows that there are just 26 three-bed houses for rent in the whole of the South Hams and the cheapest is £1,000 a month, with the most expensive being £1,950 a month. While the median average salary in the South Hams is £25,860, just above the minimum wage of £22,308 for a full time employee. 

We asked LiveWest why they were selling homes in the South Hams during a rental crisis and Glynnis Poole, Director of Investment and Sustainability at LiveWest, said: “Our priority is to provide our residents with sustainable, affordable homes and sometimes we have to make the tough decision to sell homes that are no longer able to meet either the government’s energy efficiency and modern space standards.

“Having thoroughly surveyed these two homes and reviewing their investment and long-term sustainability needs, we identified significant investment was required to bring the homes up to modern environmental standards and ensure they are cost effective to run.

“We sell a very small number of our homes and ensure any proceeds go towards providing more high-quality, affordable homes in the area as we continue to invest in our communities.

“We appreciate there is a shortage of affordable homes in the area which is why we are committed to delivering 220 affordable homes in South Hams over the next five years.

“We currently own and manage over 4,000 homes in South Hams and continue to invest significantly in those properties.”

LiveWest had a £50,823,000 surplus for the year in April 2024 and their top three executives make a combined £840,000-870,000 a year.