Published: 8th Apr 2019

Local authority housing companies were unable to replace almost a third of homes sold under the government’s controversial Right to Buy scheme last year, according to a new survey. The survey by the National Federation of ALMOS (arms-length management organisations) reveals council-owned housing companies were only able to replace 69% of Right to Buy sales in 2018. The National Federation represents 31 ALMOS across the country, which manage a total of 417,913 homes. According to the survey, its members built around 2,000 homes last year but sold over 2,813 homes under Right to Buy, which means a net loss of at least 864 properties. The survey also reveals that over the next 12 months, the sector plans to build 1,801 new build homes and acquire 713 homes, making a total of 2,514. And over the next five years, the sector has plans to build at least 7,265 homes, although plans … (To read the full article, subscribe below)