HOUSING chiefs across Gwent need to spend £1 billion to bring council homes up to scratch, we reveal today.

Newport, Torfaen, Monmouthshire and Caerphilly councils between them already need to spend £877.5 million to meet the Assembly's 2012 targets for repairs and improvements to council homes.

Blaenau Gwent council is still assessing its housing situation, but when it releases the amount needed to be invested in its homes, it could push the Gwent total to over £1 billion.

The Assembly has set a 2012 deadline to improve housing standards - forcing cash-strapped councils to take radical action.

Tenants of two Gwent councils are already being asked to decide if their local authorities should hand over responsibility for housing to new landlords like housing associations. Unlike councils, they are allowed to borrow funds in order to make repairs and improvements.

The transfer of council homes to private landlords could mean the biggest change in social housing for a generation. It would mean massive investment, triggering economic regeneration and creating new jobs.

But the possibility of rent increases and higher eviction rates are still a source of worry among many Gwent residents.