“Forty percent of homes sold under Right to Buy now in the hands of private landlords, new analysis reveals”

Scotland and Wales stopped these sales – it can be done, no excuses.

“Tens of thousands of council homes sold under the Right to Buy scheme, designed to help low-income families get on the housing ladder, are now being let out by private landlords, new research has revealed.

Just over 40 per cent of properties purchased under the controversial scheme are now being rented out privately – a rise of 7 per cent in the last two years alone.

As a result, properties sold off quickly become significantly more expensive than they were previously. The average private rent in England is £210 per week – more than double the £88 average social rent.

If the current trend continues, more than half of all Right to Buy homes will be rented privately by 2026, according to the research by Inside Housing magazine.

The analysis – based on figures from 111 councils, around two thirds of the total – shows that 180,260 leasehold properties were sold by local authorities since 1980. Of those almost 72,500 are now registered with an “away address”, suggesting they are being rented out privately.

The mass sell-off comes despite council house waiting lists currently standing at more than 10 years in some parts of the country, and a 97 per cent fall in new social homes being built since 2010.

Amid fears over the on-going impact of Right to Buy, the Scottish Government scrapped the policy in Scotland last year and on Tuesday the Welsh government voted to follow suit.

Critics say Right to Buy has led to a staggering loss of social homes because those sold off under the policy are not being replaced. According to Local Government Association analysis, just one new home is built for every five sold.

There are now just 2 million council homes left in Britain – down from 6.5 million when Right to Buy was introduced by Margaret Thatcher in 1980, although a number of factors are behind the fall.

Despite growing concern about the impact of the policy, last year the Conservatives controversially extended Right to Buy to properties owned by housing associations – meaning thousands more low-rent homes are likely to be sold off. …”

http://www.independent.co.uk/news/uk/politics/right-to-buy-homes-sold-private-landlords-latest-figures-rent-a8098126.html

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s