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10/12/2019

Decline in number of social homes sold in 2018

Words: Laura Edgar
Sold / iStock-92268246

In 2018/19, 19,389 social homes were sold – a 12 per cent decline on the number sold in 2017/18, according to government statistics.

Of these sales, three-quarters were made through the scheme, including preserved and voluntary Right to Buy. The Ministry of Housing, Communities and Local Government (MHCLG) release states that this is consistent with previous years.

During this period, local authorities received 26,250 Right to Buy applications, a 4 per cent decrease compared with a year earlier, while they sold 11,059 properties.

Local authority Right to Buy sales had an average discount of 42 per cent of the selling price in 2017/18, which is 15 percentage points higher than in 2011-12 (pre-reinvigoration).

Private registered provider Right to Buy sales had an average discount of 54 per cent of the selling price in that year, according to the statistical release, which is 24 percentage points higher than in 2011/12 (pre-reinvigoration).

Local authorities were responsible for three out five social housing sales in 2018/19, which is “consistent” with the previous three years.

In 2018/19, 4,351 demolitions of social housing stock held by local authorities and private registered providers took place. The release states that “there has been a general decrease in number of demolitions since 2001/02”.

Social Housing Sales: April 2018 to March 2019, England can be found on the UK Government website (pdf).

Image credit | iStock

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