THIS BOOK OFFERS a succinct and clear presentation of changes to the system of providing housing finance in England. Whilst there is a particular focus on the last 20 years, one chapter provides an historical sweep of changes in the provision of owner-occupied and rental housing during the twentieth century. The author seeks to use a political approach, with a focus on changing policies towards institutions and financing strategies, rather than simply a description of financial systems.

Chapter 1 is introductory and explains the meaning and sources of housing finance. Chapter 2 considers alternative ways of financing housing through the state and the market. The author differentiates between object and subject subsidies; the former subsidizes the buildings or provision of housing and the latter subsidizes the users. The discussion describes the significance of different subsidy strategies. Chapter 3 then considers the development of housing subsidies in England and Chapter 4 specifically considers the emerging role of local authorities. Chapter 5 turns to housing associations, voluntary organizations that have become alternative providers of social housing. Chapter 6 looks at the private rental market and Chapter 7 considers owner-occupation. The author seeks to explain the financing strategies used by the government to ensure adequate housing, and the success of the strategies that have been used. Chapter 8 considers the housing benefit system that is currently being used to ensure that the poor have access to the housing they require.

The final chapters look at the present and the future. The author stresses that there is little difference between the present Labour government and the previous Conservative administration. He argues that housing provision in the UK has been characterized by four persistent (but not always consistent) themes: owner-occupation and the capacity of people to afford their own housing; centralization and the unwillingness of central government to enable local authorities to make their own choices about housing provision and management; liberalization and the importance of supporting housing markets; and finally, individualization, with support for the increasing ability of households to make their own choices about housing provision.