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22/08/2013
More Council Tenants Seize Right To Buy Opportunity
More council tenants are seizing the opportunity to buy their home, Housing Minister Mark Prisk said today (22 August 2013).
New published figures show a total of 2,149 properties were sold between April and June this year, nearly five times the 443 sold during the same period in 2012, bringing the total number of council homes sold under the reinvigorated Right to Buy to more than 8,000.
Mr Prisk said that with discounts increased to a maximum £100,000 in London, and moves to make even more tenants eligible for the Right to Buy, sales should continue to rise over the coming year.
The sales have generated £129m in gross income, and under the reinvigorated Right to Buy receipts from additional sales will be recycled back into the development of new affordable homes for rent.
These will add to the 150,000 affordable homes that have been delivered in England over the last three years, thanks to the success of the government's affordable housing programmes.
Today's figures confirm that the housing market has turned a corner since the end of the unsustainable housing boom, with the number of first time buyers at its highest level since 2007. Housing supply is also at its highest level since 2008, with developers pledging to use this momentum to increase output and get Britain building again.
Mr Prisk said: "I'm delighted that thousands of council tenants are seizing the opportunity to purchase their home through the reinvigorated Right to Buy. However, many councils still need to do more to bring the scheme to the attention of their eligible tenants. With larger discounts now available for tenants in London, and plans to extend eligibility for the scheme, I expect to see these numbers grow further.
"This government is determined to support hardworking people, wherever they are in the housing market. That's why we're helping prospective first time buyers, existing homeowners and social tenants move up the property ladder. We'll also be building thousands of new affordable homes for rent across country, using money from sales under Right to Buy."
(CD/JP)
New published figures show a total of 2,149 properties were sold between April and June this year, nearly five times the 443 sold during the same period in 2012, bringing the total number of council homes sold under the reinvigorated Right to Buy to more than 8,000.
Mr Prisk said that with discounts increased to a maximum £100,000 in London, and moves to make even more tenants eligible for the Right to Buy, sales should continue to rise over the coming year.
The sales have generated £129m in gross income, and under the reinvigorated Right to Buy receipts from additional sales will be recycled back into the development of new affordable homes for rent.
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These will add to the 150,000 affordable homes that have been delivered in England over the last three years, thanks to the success of the government's affordable housing programmes.
Today's figures confirm that the housing market has turned a corner since the end of the unsustainable housing boom, with the number of first time buyers at its highest level since 2007. Housing supply is also at its highest level since 2008, with developers pledging to use this momentum to increase output and get Britain building again.
Mr Prisk said: "I'm delighted that thousands of council tenants are seizing the opportunity to purchase their home through the reinvigorated Right to Buy. However, many councils still need to do more to bring the scheme to the attention of their eligible tenants. With larger discounts now available for tenants in London, and plans to extend eligibility for the scheme, I expect to see these numbers grow further.
"This government is determined to support hardworking people, wherever they are in the housing market. That's why we're helping prospective first time buyers, existing homeowners and social tenants move up the property ladder. We'll also be building thousands of new affordable homes for rent across country, using money from sales under Right to Buy."
(CD/JP)
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