Published: 29th Mar 2018

A report published by the government today (March 29) has revealed that only one social home is being built for almost every three sold off under the right-to-buy scheme. The government’s aim is that for every additional property sold under right to buy, a new affordable home for rent will be provided nationally under the one-for-one additions policy. Currently, local authorities are able to keep the receipts from additional right-to-buy sales to pay off debt and fund additional affordable housing, but this report reveals the government are still well behind their target. In October to December 2017-18, local authorities sold an estimated 2,815 council homes under the right to buy scheme. This is a decrease of 19% from the 3,470 sold in the same quarter of 2016-17. The sales brought in £237.9m, 19% lower than the £292.3m in the same quarter of 2016-17. During this period 1,101 homes were being built or … (To read the full article, subscribe below)