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01/04/2019

Decline in Right to Buy sales

Words: Laura Edgar
Housing / iStock_000074406885

An estimated 2,645 dwellings were sold under Right to Buy in England between October and December 2018 (Q3), recent Ministry of Housing, Communities and Local Government (MHCLG) statistics have suggested.

This a 20 per cent decrease compared with the same period in 2017/18.

Local authorities received approximately £230.2 million in the third quarter of 2018/19, which is 13 per cent less than the £264.3 million received in Q3 in 2017/18.

The average receipt per dwelling was £87,000 in Q3 of 2018/19.

As part of the Right to Buy replacement policy, 1,038 dwellings started on site or were acquired in the third quarter of 2018/19. This is 32 per cent less than the number of dwellings started or acquired in the same quarter a year earlier by local authorities, Homes England and the Greater London Authority (GLA). For local authorities only, this figure was also 32 per cent less.

The full statistical release can be found on the MHCLG website (pdf).

Image credit | iStock

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