Battle lines drawn over housing transfer

But according to a new report, further housing stock transfers are unlikely – because no money is available. Hull Council may own 27,500 properties, but currently they carry a negative transfer value of at least 100m.

Financial advisor Graeme Smith, who is due to appear before a Council scrutiny committee next week, said: ‘The message is there’s no funding for this, so the likelihood is if we explored any of these (ways of transferring stock) we would come to a dead end very rapidly.’

The result of a ballot of North Bransholme tenants is due at the end of the month. Campaigners for the move say it will lead to greater improvements than the Council alone could afford, but Labour councillors and local unions say the transfer is in no one’s interests.

Hull Council has had to find 5.5m in land and cash from its housing revenue account to subsidise the move, hoping that the Government will write off 11m debt.

In exchange, some cash could be recovered from any future sales.

Picture: Terry Carrott.