Why is it that private investors are so keen to get into social housing?

Legal & General has just announced that it is partnering with 14 housing associations, which will manage a tranche of 3,500 ‘affordable’ homes it’s funding. But, asks James Moore, is the interest of private capital in this sector really a good thing?

A goldmine for investors? For-profit providers of affordable homes are causing controversy (Getty)

Britain’s housing crisis has rumbled on in the background of a dismal election campaign, rearing its head occasionally without ever quite making it into the highlights. Or rather, the lowlights.

That’s unfortunate because the country is failing badly when it comes to providing sufficient numbers of homes that people can afford to live in.

The grim consequences of that failure can be seen on the streets of our towns and cities. The Independent recently reported figures showing that a homeless person dies every 19 hours. There’s also a vast unseen underbelly of people living in temporary or unsuitable accommodation.