London Mayor’s housing scheme sees 1,500 homes returned to council ownership

More than 1,500 homes have been brought back under council ownership since London Mayor Sadiq Khan launched the Right to Buy-back scheme last year.

The scheme was created in July 2021 to boost London’s social housing stock, as 150,000 people are thought to be in temporary accommodation, according to London Councils.

Fourteen boroughs have since been allocated £152m to buy 1,577 former council homes, sold into the private market through the Right to Buy scheme.

These homes have been, or are set to be, converted into affordable housing let at social rent or let as accommodation for homeless households.

Mr Khan said: ‘For more than 40 years, London’s precious council homes have been disappearing into the private sector, often never to be replaced. As Mayor I have maintained a relentless focus on stemming the tide and replenishing London’s social housing stock.

‘I am proud that, thanks to my interventions, we have brought council homebuilding back up to levels not seen since the 1970s and I’m hugely encouraged by the enthusiasm I see from boroughs across London for building new council homes and using my Right to Buy-back scheme to return homes to public ownership.

‘These homes were built for the public good and it has been painful to watch them disappear into private portfolios. Returning these homes to public ownership is a key part of my plan to build a better London for everyone – a city that is greener, fairer and more prosperous for all.’

In August, the Mayor expanded the program to help councils support Afghan refugees, resulting in 39 homes being bought in Hounslow and Islington, but many are still living temporarily in hotels.

Around 23,000 London council homes have been bought under Right to Buy in the last decade, while just 14,000 have been replaced, contributing to the capital’s housing crisis.  

According to the New Economics Foundation, there has been an average annual net loss of 24,000 social homes since 1991, leading the organisation to launch a campaign for more affordable social housing.

Mr Khan has recently doubled his target for new council homes to 20,000 by 2024, after the previous target of 10,000 council homes was achieved by the end of 2021/22.

Photo by Jay Clark