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09/10/2017

Government figures suggest fewer Right to Buy purchases

Words: Laura Edgar
Right To Buy / iStock-547451008

The number of homes sold by local authorities through Right to Buy fell by 23 per cent between April and June this year compared with the same period in 2016, according to statistics released by the Department for Communities and Local Government (DCLG).

An estimated 2,601 homes were sold during the first quarter of this year in England, while 3,382 were sold in the same quarter in 2016-17.

In London, local authorities sold 503 dwellings in April to June 2017-18, down 45 per cent from the 921 sold in Q1 in 2016-17. London boroughs accounted for 19 per cent of the sales in the first quarter of this year, a decrease of 8 per cent from 27 per cent a year earlier.

In the first quarter of 2017-18 local authorities received about £219.5 million from Right to Buy sales, down by 23 per cent from £285 million, in comparison with the same period a year earlier.

The average receipt per home was £84,000, which was the same for the corresponding quarter in 2016-17.

To replace stock, councils started building 903 dwellings in Q1, 26 per cent more than the number for 2016-17.

According to the statistics, local authorities, the Homes and Communities Agency and the Greater London Authority have started building 13,623 homes since former Prime Minister David Cameron championed the Right to Buy policy in April 2012.

Right to Buy Sales in England: April to June 2017-18 can be found on the DCLG website (pdf).

Image credit | iStock

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