In the 12 months leading up to the end of March, 54 tenants in Wandsworth bought their council home. This compares to just two cases the previous year before the rules were relaxed.
In April last year ministers increased the maximum discount available for eligible tenants to £75,000, raising it from the £16,000 limit set by the previous Government.
The scheme was given a further boost in last month's budget when the Chancellor announced he was making further changes to the scheme.
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George Osborne declared that the maximum cash discount available for tenants in London would be immediately raised to £100,000 and that people would soon be permitted to purchase their home after three years instead of five.
The council's housing spokesman Cllr Paul Ellis said: "The Right to Buy their own council house has transformed the lives of millions of people in this country.
"It has brought the ambition of home ownership to life for those who otherwise would not have been in a position to afford their own home.
"The scheme has always been about giving a helping hand to ordinary people who aspire to improve their lives. It has given them a greater stake in their communities and helped regenerate entire areas.
"I am delighted that over the past year so many more people have been able to fulfil their dream of home ownership. The changes announced in the budget mean this dream will soon become a reality for many more aspiring households."
(CD)
