“Right to Buy homes re-sold since 2000 made £6.4bn in profit” (many sold within 6 weeks)

Proof that the destruction of social housing is a Conservative policy.

“A former council tenant bought their home under Right to Buy for £8,000 and sold it on for £285,000 nine days later – a £277,000 profit, the BBC found.

The Solihull buyer was among 140 in Great Britain who bought and resold within one month, making a £3m collective profit.

Opponents of the scheme said too many people had profited from a policy that had “much bigger social ambitions”.

Supporters said Right to Buy helped people secure their financial future.
The Chartered Institute of Housing (CIH) said it was “shocking to see the extent of the profit margin in black and white”.

It called for the scheme to be suspended in England. In January it was halted in Wales, as it was in Scotland in 2016.

Housing commentator Henry Pryor said: “Far too many… simply profited from a scheme that had much bigger social ambitions”. …”

https://www.bbc.co.uk/news/uk-47443183

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