One of Britain’s biggest housing associations plans to cut the number of affordable homes it builds each year and double the amount of properties it will sell after George Osborne said he would cut social rents.
Neil Hadden, the chief executive of Genesis Housing Association, which operates in London and the East of England, said it would cut the number of affordable homes it builds each year and those for social rent to about 100, while it will construct about 500 for shared ownership and 400 for market rent and sale.
It had split the 1,000 homes it aspires to build each year equally across all three categories but after the chancellor announced the 1 per cent annual rent cut for social housing in the