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23/09/2019

Slight year-on-year decrease in Right to Buy sales

Words: Laura Edgar
Right To Buy / iStock-547451008

Local authorities sold an estimated 2,313 homes under the Right to Buy scheme between April and June 2019 (Q1), according to latest Ministry of Housing, Communities and Local Government (MHCLG) statistics.

This is a 7 per cent decline on the 2,485 homes sold in the first quarter 2018/19.

The statistical release reports that this is the lowest number sold in six years.

In Q1 2019/20, local authorities received £194.7 million from Right to Buy sales, which is 7 per cent less than the £209.5 million received in the same quarter a year earlier.

The average receipt per house sold in Q1 was £84,200, similar to the £84,300 receipt in the same quarter of 2018/19.

In terms of replacing homes sold, the statistics suggest that there were 1,290 homes started on site or acquired as part of Right to Buy replacement policy in Q1 2019/20. This is 38 per cent higher than the number of homes started or acquired in the same quarter of 2018-19.

Right to Buy Sales in England: April to June 2019 can be found on the UK Government website (pdf).

Image credit | iStock

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