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Social housing sales to sitting tenants up 16%

The statistics cover sales through Right to Buy, Preserved Right to Buy, Right to Acquire, Social HomeBuy and other outright or shared equity sales to sitting tenants. They do not include Low Cost Home Ownership sales through shared ownership schemes to non-social tenants.

There were an estimated 3,100 Right to Buy sales in England in 2009-10 (36 per cent of all sales), a 20 per cent decrease from 2008-09. Around three-quarters of Right to Buy sales were of Local Authority properties.

A further 2,940 sales (35 per cent of total sales) were disposals of Registered Provider properties to the private sector. Other shared equity and outright sales to sitting tenants accounted for the remaining sales.

The average market value of Local Authority properties purchased through Right to Buy in 2009-10 was £101,260. This produced average capital receipts of £74,610 and an average discount of £26,660 per property.

Registered Provider sales included 90 properties sold through the Right to Acquire scheme (compared to 180 in 2008-09) and 80 through Social HomeBuy (compared to 100 in 2008-09).

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0 thoughts on “Social housing sales to sitting tenants up 16%

  1. Major Landlord says:

    I was never in favour of selling off council houses and social housing to tenants, and am no more so today.

    If this kind of housing is meant for those who have no prospect of ownership, and if we actually need a certain level of available social housing stock (as we are constantly being told by the NHF and housebuilders), then WHY on earth are we not only SELLING IT OFF, but selling it to people who have had low rents for years, selling it to people who can now clearly afford to raise a mortgage AND selling it off at a DISCOUNT?

    Once it’s sold, surely we then need to find the money to build and provide replacements?

    What kind of insanity is this? And when will it end?

    If we really need social housing, we should KEEP it.