Thursday, 19 January 2017

Figures show 3,250 RTB sales in three months

More than 3,250 council homes were sold under the Right to Buy in the last quarter of 2015, with just 396 replacements started.

Figures published today by the Department for Communities and Local Government (DCLG) revealed a 1% drop in sales compared to the same period last year, but a 5% increase in sales receipts.

It means a total of 38,479 council homes have been sold since discounts were raised in 2012, with 4,594 replacements started.

The government pledged that all additional homes sold as a result of the boosted discounts would be replaced when it revitalised the scheme in 2012.

Overall Right to Buy sales dropped by 1%, from 3,288 sold between October to December 2014/15 to 3,250 in the same period last year.

 

However, councils received £259m in Right to Buy sales, 5% higher than the £247.5m received in 2014/15.

There has been an increase in the number of councils with more than five sales per 1,000 homes. In 2010/11 there was one council with more than five sales per 1,000 homes, and this has now jumped up to 125 councils in the past year to December.

The DCLG said it had exceeded its target to replace properties sold through Right to Buy on a one-for-one basis, as councils have three years from the date of sale to provide an additional affordable property.

There were 1,326 sales regarded as additional, of 3,494 total sales, between quarter one and three 2012/13. There have been 4,594 starts and acquisitions since quarter one 2012/13.

However, the National Audit Office recently warned Right to Buy replacements would have to increase “fivefold” to meet the government’s pledge.

The 396 replacements started mark a rise of one from the same period last year and a fall from 504 in the previous quarter.

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