Taylor Scott International News
Nearly 50,000 households in the UK have now used the government’s Right to Buy programme since the scheme was reinvigorated in 2012, the latest published data shows. This means that overall some 291,000 households have now been helped to purchase a home through government backed schemes, which also include Help to Buy, since 2010. The data also shows that more than 3,000 people bought under the Right to Buy scheme between October and December and councils received £259 million from sales of homes which will go towards building additional homes. For every additional home sold under the Right to Buy a new additional affordable home is built which further increases the housing stock nationwide. There have now been nearly 5,000 starts on additional homes, exceeding the target for one for one additional sales. ‘We are determined that anyone who aspires to own their own home should have the opportunity to do so. These figures show people are still very keen to take up their Right to Buy and why we are now extending that opportunity to housing association tenants,’ said Housing Minister Brandon Lewis. ‘Britain is building again and homes are being delivered following the sale of properties. Alongside this a thousand tenants are registering each week to join those who have already realised their dream to own their home,’ he added. The figures reveal that the top 10 places taking up Right to Buy are Birmingham, Nottingham, Leeds, Sheffield, London’s Newham, London’s Tower Hamlets, Wolverhampton, London’s Southwark, Kingston Upon Hull and London’s Barking. And the voluntary Right to Buy will extend the discounts currently enjoyed by council tenants to 1.3 million housing association tenants giving them the chance to own their home too. More than 25,000 housing association tenants have already registered their interest in taking up this option with 1,000 registering their interest each week. The historic agreement between the government and housing associations also ensures an additional home will be built for every one sold nationally, significantly increasing supply across the country and two for one in London. The Right to Buy scheme gives qualifying social tenants the opportunity to buy their rented home at a discount. Under the reinvigorated Right to Buy, local authorities are now able to keep the receipts from additional Right to Buy sales to pay off debt and fund additional affordable housing. Since 1980, Right to Buy has helped nearly two million council tenants to realise their aspiration to own their home. Taylor Scott International
Taylor Scott International, Taylor Scott
