“End of Right to Buy set to increase demand for affordable housing”

Affordable housing output needs to be increased as the Help to Buy scheme is wound down, according to property consultancy Savills. The Help to Buy scheme has been a major factor in helping young people to afford their own home in recent years. However, its eligibility criteria are set to be tightened in 2021 with the future of the scheme up in the air.

[Take this with a pinch of salt – those “affordable” homes are, on average £33,000 more expensive than they ought to be]:

https://eastdevonwatch.org/2019/04/14/help-to-buy-costs-first-time-buyers-an-average-33000-extra/

A report by Savills said that housebuilding in England may need to increase by up to a third between 2021 and 2025 to make up for the end of the current Help to Buy scheme. Emily Williams, associate director for residential research at Savills, said: “Private sector housebuilding for market sale has underpinned the rapid expansion in housing supply since 2013, including affordable housing delivery through Section 106. But that growth is slowing against market headwinds.”

http://www.room151.co.uk/brief/#end-of-right-to-buy-set-to-increase-demand-for-affordable-housing

2 thoughts on ““End of Right to Buy set to increase demand for affordable housing”

  1. How true. Right to buy meant compelling the taxpayer to gift cash to the occupier of a house because they happened to be there and it happened to belong to a public authority. I wonder why ordinary home buyers and renters did not receive a serious discount, or cash, for buying a house. After all, that would be fair wouldn’t it? Why should council tenants be the only ones to profit (apart from the builders of mainly unaffordable housing – which they can’t afford to build unless they take all the profit and make no contribution to infrastructure). I seem to recall a certain Lady Porter got into trouble with right to buy schemes?

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