Posted 13.07.21
Mayor of London: Further reading
The Mayor of London, Sadiq Khan, has announced a new plan to boost the capital's supply of council homes.
His new 'Right to Buy-back' fund will give boroughs the resources to purchase former council homes that have been sold into the private market through the Government's Right to Buy programme.
Since the introduction of Right to Buy, part of the 1980 Housing Act, more than 300,000 London council homes have been sold.
While the number of Right to Buy sales has been declining in recent years, the policy continues to have a negative impact on the overall number of council homes in London.
It also doesn't appear to be fulfilling its original mandate of boosting owner occupation, with four in ten now rented on the private market - sometimes back to the very council that was forced to sell the home, in order to house homeless families.
The proposed 'Right to Buy-back' scheme will make money available to help councils and council-owned housing companies acquire homes that will then be let at social rent levels or used as accommodation for homeless families.
All homes purchased through this scheme must meet the Government's Decent Homes Standard.
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