- New analysis finds Right to buy costing councils £300 million a year
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Posted 03.10.18
Chartered Institute of Housing (CIH): Article link
Total Right to Buy discounts have climbed to £1 billion a year - leading to a net loss of some £300 million, according to new analysis from the CIH.
Cutting the discounts available could lead to an extra 12,000 homes being built a year, CIH has calculated. But the organisation says Right to Buy should be suspended altogether to stem the loss of social rented homes.
The extent of the cost to the public sector is revealed in the UK Housing Review 2018 Autumn briefing paper, launched 2 October at Sheffield Town Hall.
Right to Buy discounts were increased to £80,000 - and £108,000 in London - in April 2012. Since then 69,467 homes have been sold while only 18,958 have been started or acquired to replace them.
Use the above link to download the UK Housing Review 2018 Autumn briefing paper.
