Government releases latest right to buy stats
Published by Max Salsbury for 24dash.com in Housing and also in Local Government
Housing association’s Homebuy scheme extended
An estimated 2,149 homes were sold under the right to buy scheme in the first quarter of 2013, nearly five times the amount sold in the same period of 2012.
However, the official figures show that there were approximately 300 fewer properties sold in Q1 2013 than in 2012's final quarter.
London councils' housing stocks accounted for 18% of sales in 2013's first quarter, after accounting for 21% of right to buy sales for the previous seven years.
The quarter netted councils approximately £129 million in right to buy sales, more than five times higher than the £24 million in the same quarter of 2012.
The average receipt per dwelling in Q1 2013 £60,000.
Meanwhile, Wandsworth Council has said that it has managed to sell of 38 of its homes under the scheme since the maximum discount in London was increased in London.
The council says that it led a successful campaign to get the government to increase the discount.
Cllr Guy Senior, the council’s right to buy spokesman, said: “I’m delighted so many ordinary working households have become homeowners since we revived right to buy. We are up to 93 completions in Wandsworth and many more are working their way through the system - that’s a terrific achievement.
“We appreciate the deep frustration felt by many low and middle income families who have been priced out of the London property market. This council will do everything it can to help them.”