More than 40% of former council homes now rented out by private landlords
Pilot scheme will cost £200m with commitment to build new homes to replace lost stock
Local Government Association calls for ‘fundamental reform’ in the way scheme is funded
Tenants living in homes sold under Margaret Thatcher’s scheme now pay twice the rents charged by local authorities
Selling off council homes is economically and morally reprehensible. The government needs to halt its kneejerk support for home ownership
National Audit Office says fivefold increase in number of new homes created is needed to keep pace with 2014-15 sales
Figures show that replacements for homes sold under the right-to-buy scheme fell by 27% last year, worsening the housing crisis
The end of the Right to Buy scheme in Scotland after 30 years has been welcomed by housing bodies.
Nearly 500,000 council and housing association homes were sold under the policy, which was introduced by Margaret Thatcher's government in 1980.
It allowed tenants in social housing to buy their homes at discounted rates.
The UK Government must lift its home building target by 50% and build 300,000 new homes each year to tackle the current housing crisis, according to a report from the House of Lords Economic Affairs Committee.
The report suggests that local authorities and housing associations must be freed to build substantial numbers of homes for rent and for sale and points out that the current targets will fail to meet the demand for new homes or moderate the rate of house price increases.
It also says that current policy is restricting local authorities' access to funding to build more social housing and creating uncertainty in the already dysfunctional housing market by frequent changes to tax rules and subsidies for house purchases, reductions in social rents, and the extension of the Right to Buy.
Right to Buy is to be abolished in Wales.
Making the announcement, Welsh First Minister Carwyn Jones told the Welsh Assembly that the abolition “will ensure social housing is available to those who need it and who are unable to access accommodation or the private rented sector”
Over 500,000 people have opened Help to Buy ISAs, which offer government bonuses of up to £3000, as they save towards buying a home, the latest data shows.
Figures also show that since the launch of the Help to Buy equity loan, mortgage guarantee and ISA schemes over 160,000 completions under the schemes have taken place, with 80% having been made by first time buyers.
The average house price being purchased with support from the Help to Buy schemes is £189,795, significantly below the national average and 94% of Help to Buy completions have taken place outside London.
Barking and Dagenham’s version of right-to-buy scheme aimed at retaining housing stock while letting tenants buy a share in their property at discount
Around 16% of council homes that have been sold by ten local authorities under Right to Buy have been to tenants on housing benefit.
Former local authority tenants who bought their properties for as little as £44,000 are facing demands of up to £50,000, which they can’t afford to pay
The government announced last year that the "right to buy" would be extended to housing association tenants.
But as the first housing association properties are about to be sold, questions are still being raised over how the policy will be funded.
The government was once the biggest landlord in Europe, but now it houses comparatively few - 1.6 million council-owned dwellings, in England, less than half the 3.5 million of 20 years ago.
It started off as an idea from Jeremy Corbyn’s campaign to become Labour leader but today it’s being backed by a right-wing think tank - giving private sector tenants the right to buy the home they rent.
Over the weekend the Guardian reported that the pro-market organisation Civitas says such a move would help currently-struggling 20- or 30-something tenants to get on the housing ladder.
Birmingham would be forced to sell the most council homes to help housing association tenants buy, says Shelter
Nearly 50,000 households in the UK have now used the government’s Right to Buy programme since the scheme was reinvigorated in 2012, the latest published data shows.
This means that overall some 291,000 households have now been helped to purchase a home through government backed schemes, which also include Help to Buy, since 2010.
The data also shows that more than 3,000 people bought under the Right to Buy scheme between October and December and councils received £259 million from sales of homes which will go towards building additional homes.
For every additional home sold under the Right to Buy a new additional affordable home is built which further increases the housing stock nationwide. There have now been nearly 5,000 starts on additional homes, exceeding the target for one for one additional sales.
Local authorities in England have replaced one in 10 of the homes sold through right to buy since discounts were increased in 2012.
Government figures show there have been 49,573 sales since the scheme was relaunched, while 4,594 have been started on site or acquired by councils.
According to the latest data by the Department for Communities and Local Government (DCLG), an estimated 3,250 properties were bought by tenants in the last three months of 2015, up from the 2,941 sold during the previous quarter, but slightly lower than the 3,288 sold in the same period of the previous year.
During the same three-month period, 396 homes were started on site or acquired, DCLG data showed on Thursday.
Bungalows are likely to be sold-off as a by-product the government’s plans to extend Right To Buy, but are unlikely to be replaced by new ones.
That’s the claim of the Joseph Rowntree Foundation think-tank which says the Housing and Planning Bill, currently going through Parliament, will compel local authorities to sell off high value housing stock as it becomes vacant to fund the Right to Buy extension for housing association tenants.
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